Three things to include in a background check for a potential tenant.

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This legislative session has seen several bills that affect landlords.

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We may be seeing a shift in demand and tenant quality in our market.

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From our team to your family, we want to wish you a happy holiday season.

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Rental assistance is coming to an end. See the details here.

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This court case was interesting for two very important reasons.

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How we helped our client resolve an issue with their rental property.

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Here’s what property owners need to know about bifurcated property taxes.

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Do you understand bifurcated property taxes? This can be a tricky topic, so today I’ll explain everything you need to know about these types of taxes in our area.

The bifurcated property tax was implemented in 2005. Essentially, if you’re a private homeowner, your property taxes are capped at 3%. If you own an investment property, the cap is 8%. When you own a property, you’ll receive a postcard from the government where you’ll indicate if your property is a primary residence or an investment.

Rental properties are a bit of a gray area. When you receive your postcard, you should note that a property is a rental and how much you charge for rent. If your monthly rent is below a certain amount, you can qualify for the 3% property tax. If your rent is above the amount, your property will be treated as an investment and have an 8% cap. 

"Make sure you aren’t paying more than you need to."

The issue with this system is that we have to rely on the postal service to deliver the mail. If the county doesn’t receive your postcard, they automatically push you up to the 8% cap. Considering how unreliable our postal service can be, this happens often. Once you correct this error, you can only be reimbursed for the last year of property taxes. The law is a little unclear on this issue, so I’ll look into it further and let you know what I find. 

In the meantime, please call or email me with any questions about today’s topic. I look forward to hearing from you! 

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Why rent control won’t lower rents, and what we should do instead.

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There’s been a lot of talk about rent control recently, and the Culinary Union even introduced a ballot initiative to implement rent control in North Las Vegas. The issue with rent control is that while it sounds good, the places that enact it end up having the highest rents in the country. Rent control tends to stifle supply. 

People who want rent control really want affordable housing, which we also want. Rents have gone up so much that many don’t have the jobs to support the payments anymore. The rental market has reached a standstill, but the answer isn’t rent control. The way to create affordable housing is to increase the housing supply. 

"While rent control sounds good, it only ends up stifling supply."

However, Nevada has a problem with just building more housing. We have the highest percentage of federally owned land of any state in the country. Clark County is almost 90% federally-owned land. We have to buy that land back at an exorbitant price and then somehow still build affordable housing on it.

It will take a lot of negotiating, navigating bureaucracy, and working with our federal representatives to get that land back at a cost that lets us build the housing we desperately need. It’s a big problem, and we’d like to take it on, but we need the right people in place to help find a reasonable solution.

If you’d like to talk more about this issue, feel free to call or email me. I’d love to hear from you.

Watch me impartially choose the name of our Tidy House winner for March!

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Though this blog is coming out a bit late, it’s time for March’s tidy house drawing! Watch the video above to see me fairly choose a winner from our Guardian Realty bucket. Drum roll please… and the winner is Charne from Rawhide Court—congratulations! It’s such a pleasure to be able to reward our tenants who are taking excellent care of our houses. 

If you ever have any questions or want to learn more about our benefits program, please give us a call or send an email. We’d love to help you.