Insider Tips on Navigating Las Vegas' Short-Term Rental Market
The short-term rental market in Southern Nevada has been a hot topic recently as unincorporated Clark County is set to update its ordinances to include the issuance of 2,800 licenses determined by a random number lottery, distance requirements, and a baseline for taxation and transient lodging laws. The City of Las Vegas, the City of North Las Vegas, and the City of Henderson have each already updated their ordinances after the Governor signed Assembly Bill 363 in 2021.
Are you considering owning or managing a short-term rental property in Las Vegas? The popularity of short-term rentals has soared in recent years with the rise of online platforms such as Airbnb and VRBO. However, navigating the regulations and expectations can be daunting for new owners. To provide insight and guidance, we recently assembled a panel of experts including Jason Garcia, Tiffany Lester, and Serena Kasama to discuss the topic at our latest sales meeting. Here's what we learned about owning and managing short-term rental properties.
Create an inviting listing
Your listing is the first impression guests will have of your property on websites like Airbnb and VRBO, so it's important to stand out. Make sure you have high-quality photography that accurately depict your property's amenities and professionally staged décor. Highlight what makes your property unique and any nearby attractions or amenities that guests might find appealing. Be sure you price your property correctly and check the calendar for upcoming holidays or events in your area with increased demand.
Keep your property clean and well-maintained
Guests expect a high level of cleanliness when they book a short-term rental property. Make sure your property is thoroughly cleaned before each guest's arrival and restocked with essentials like fresh towels and high-quality bedding and linens.
“Success begins with your housekeepers,” said Tiffany Lester, a REALTOR at Coldwell Banker Premier Realty who owns short-term rental property in Southern Utah and Puerto Vallarta, Mexico. “They are essential to ensuring an excellent guest experience, they are your first line of defense in reporting any damage or theft and will ultimately help you earn great customer reviews for your property.”
Provide amenities that guests need and appreciate
In addition to high thread count sheets and plenty of fluffy towels, owners need to offer amenities that guests will appreciate including everything from Wi-Fi and cable to a heated pool or outdoor grill. While parties are usually banned in short-term rental properties, your property will still need to be fully stocked with paper towels, kitchen utensils, and garbage bags.
Be proactive about safety and security
Guests want to feel safe and secure when staying in a short-term rental property. Make sure your property has functioning smoke detectors and carbon monoxide detectors and provide a first-aid kit and fire extinguisher. Consider installing a security system or providing guests with a door code or keyless entry system to ensure their safety.
“We have doorbell cameras and noise monitoring technology to ensure the community is not affected by rowdy tenants,” said Jason Garcia, a REALTOR at Coldwell Banker Premier Realty and short-term property owner in Henderson. “If it gets too loud, we do contact the guests directly and we have great communication with the neighbors around the property as well.”
Property owners interested in short-term rentals should familiarize themselves with the city or county ordinances in which their property is located. Our experts also noted to be aware of the upfront and ongoing expense involved with short term rentals including furnishing and staging the home, landscaping, cleaning and laundry services, repairs, utilities, mortgage interest, host fees, occupancy taxes, and licensure.
For more information on short-term rental ordinances, use the links below:
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Melissa Chupa | Centennial Hills
Devin Reiss | Green Valley Campus
Rob Castro | Sahara Campus