Saturday, November 22, 2014

Renting a Home in Las Vegas

Las Vegas has a tight Rental Market
Las Vegas is a great place to live and, as residents know, it is much more than just The Strip. The city has so much to offer in the way of shopping, dining, recreation and the arts, that no matter what your interests, you will find plenty here to occupy you.

Home buying in the city has become easier over the last several years, with interest rates dropping and new loan programs arriving on the scene. However, many people in Las Vegas do not own a home, but they rent. In fact, 48% of the housing market is comprised of renters, with an average vacancy rate of around 10%, which means only 1 in every ten rental units is available at any given time.

The low vacancy rate combined with the high cost of rent - the average rent is around $1150 per month - and the intense application process, makes the Las Vegas rental market extremely competitive and makes renting a home in the city almost as challenging as buying a home. For these reasons, many people who are looking to rent rely on a Real Estate Agent to help them navigate the rental market and ultimately find the perfect home.

Using a REALTOR to find a rental is free; Agents get paid by the landlord/property management company, so there is no cost to the home seeker. Agents also have access to the largest listing of rentals in the city; the MLS (Multiple Listing Service). We access the MLS for rental units just like we do to find homes for home buyers which means we can help you narrow down your search and make hunt for your new home as painless as possible.

The Foster Beckman Group would love to help you find your new home. We work closely with all of our home buyers and renters to help you find the right home at the best price for the least amount of stress! Call us today at 702.686.2695.