Hello everyone, I'm Dallas Tung and welcome to the discussion about important rental regulations in Las Vegas!
As you may already be aware, Las Vegas is a hotspot for tourists. With such an influx of people coming and going, it's essential that Clark County creates regulations on short-term rentals to ensure the safety of both residents and visitors alike.
And today we're here to discuss just that - what you need to know before buying or renting out a property in Las Vegas as part of your investment portfolio. So let's get into it! The most important regulation is the 24-hour complaint hotline set up by Clark County so that locals can report any issues with their neighbors' properties easily and quickly. This has been incredibly beneficial as it allows residents peace of mind knowing they have recourse if something goes wrong.
In addition, all rentals must remain at least 1000 feet away from each other and 2500 feet away from resort casinos for safety reasons. Furthermore, only one property can be owned by each individual investor/owner which helps reduce overcrowding in neighborhoods with short-term rentals. Additionally, only 1% of houses in Clark County will be licensed for short-term rental use so this should also help keep things regulated. Finally there is a license fee ranging from $750-$1500 depending upon where your property is located in relation to casinos etcetera so make sure you factor this cost into your budget when planning an investment strategy around real estate here in Las Vegas!
I hope this information was helpful - thank you very much for watching my video today!