Last night the City of Henderson, NV City Council voted to approve the operation of short-term rentals like ArBnB in residential areas. Until now as with homeowners in Las Vegas, many have been operating illegally. Personally, just as I use Uber, I will on occasion us AirBnB as an alternative to staying in expensive hotels. With Las Vegas being the center of the universe for conventions and as a tourist destination, they need options for accommodations away from the casinos and their resort fees.
Under the new rules by the City of Henderson, property owners are going to have to pay an annual registration fee of $820 which could be a $370,000 windfall for Henderson. The city will require a minimum 2 night stay with a 30 day maximum visit. Owners will also be required to take a class, pay for insurance and provide a note to the city saying the rental does not violate homeowners association rules. State-licensed property managers are exempt from the class.
For neighbors concerned with short-term rentals being used for parties and such, the new law prohibits the use of rental units for weddings, private events or parties. There will also be a complaint hotline for neighbors.
The Greater Las Vegas Association of Realtors(GLVAR), supports the proposed Henderson ordinance, according to a letter submitted to the city. The letter cites an economic study commissioned by the GLVAR and produced by RCG Economics. “…non-owner occupied STRs rent out at a far higher number than owner-occupied STRs regardless of the municipality throughout the State of Nevada and beyond,”.
As a real estate agent in Henderson, I see this as a fantastic investment opportunity for condos and town homes. Short-term rental investments are gaining some of the investor interest once reserved for house-flipping. Please the newest condominium real estate listings in Henderson, NV below:
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