Las Vegas vs Nearby Cities
The median home value in Las Vegas tends to stay below $250,000, and the median listing price is typically below $300,000. These prices are slightly higher than those found nearby in Paradise. This city offers a median listing price around $250,000 most of the time, and it’s common for buyers to pay less than $150 per square foot. Compare those prices to the Henderson real estate market, which sometimes boasts a median listing price higher than $300,000. Both of these cities are located within 15 miles of Las Vegas, so they display the diverse real estate market available in the southern tip of Nevada. Indian Springs is one of the most affordable cities in the area with a median listing price around $100,000.
Las Vegas Property Managers
A property manager is familiar with the real estate market in the local area and knows how to maintain rental units so that they remain profitable. This includes ensuring that all areas of the property are safe and in line with all legal guidelines. Some managers also handle all communications with tenants.
Las Vegas Property Management Company Fees
While some property managers work with a flat fee, most charge a percentage of the rent collected from tenants each month. This fee can vary from under 10 percent to around 12 percent, depending on the services delivered, how much time they expect to spend at the property and other factors.
Nevada Landlord/Tenant Laws
- Nevada landlords can charge up to three times the monthly rental rate for the security deposit.
- Once a tenant moves out of a rental unit, the landlord has 30 days to return their security deposit.
- When a landlord fails to return a tenant’s security deposit, the tenant has the right to file a civil lawsuit for up to $7,000 in damages.