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

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Over the last six months, there has been a lot of discussion about how quickly rents have increased. However, recently we’ve seen the market begin to correct, as markets typically do. Vegas is sitting around $200 lower than the national average rent of $1,640, and we’ve seen rentals taking longer to rent.


Part of this is because there has been a reduction in demand, but this is also because the quality of tenants dramatically decreased. Unfortunately, many people were significantly impacted by the pandemic. While there was stimulus and rental assistance available, they chose to spend that money in other ways, which hurt their credit.

"Recently we’ve seen the market begin to correct, as markets typically do."


While we may have been more willing to take riskier tenants and give second chances because the eviction process was so fast, that is no longer the case. Due to the courts and rental assistance, getting someone out could take anywhere from three to four months, meaning it was almost better for a property to sit vacant.


The good news is that we’re starting to see the market pick up a bit, and we’re also seeing a higher quality of tenants. This means that there is blue sky on the horizon the further we get from COVID, and this will be a better market for landlords and tenants alike as government intervention in our market starts to go away.


Remember that you can always contact me with any questions or needs that you may have. I am more than happy to assist you with all of your realty investment and property management needs.