Airbnb & VRBO – Short Term Rentals
Latest News On Short Term Rentals (5/6/2022)
Clark County is going to clamp down on short term rentals by only offering about 1000 licenses.
Here was a newscast from Channel 3 about Clark County’s new ordinance on Short Term rentals. This new ordinance will essentially wipe out about 11,000 operators and will not solve the problem of eliminating party houses. We predict only about one thousand licenses will be issued because of these hurdles. This is just the short list of ridiculous rules Clark County will impose if this passes. By the way, the cities will probably follow. So even if you already have a license in North Las Vegas, Las Vegas, or Henderson, this could hit you as well:
- One person per property.
- Names will be cross referenced on LLCs so you won’t be able to play shell games.
- 10 guests per property. 1000 ft minimum distance.
- Property managers will get fined in addition to the owners.
- You will be required to submit the last 3 years of your records.
- You will be required to submit monthly statements of your guest details and income.
- If you were spanked before, you will be denied a license.
- If your property is on well or septic, you cannot get a license.
These rules will go in place July 1st, 2022.
Timing for Purchasing Airbnb & VRBO (Short Term Rentals) in Las Vegas
This is a terrible time to be looking to purchase Airbnb & VRBO (Short Term Rentals) in Las Vegas and turn into a short term rental.
- Everything Is WAY Overpriced – Californians are falling all over themselves to outbid each other. Over appraisal, cash offers, no contingencies. You are walking into a firestorm of people purchasing without common sense.
- You Can’t Get A License – That’s right. All those thousands of short term rentals you see out there are not licensed. Read more below…
Is the Property Eligible to Be Licensed in Las Vegas?
Before you get too excited about buying Airbnb / VRBO (Short Term Rentals), here is some important information you need to know. Very few properties are eligible to become licensed. If your property is in an HOA, there is 99% chance you cannot get a license. If you don’t know, send us your CCRs and we will look through it.
If your property is NOT IN AN HOA, the next step is to find out what municipality your property is located. There are essentially 4 categories, Las Vegas, North Las Vegas, Henderson & Clark County. Got to this page and type in your address. You are looking for the wording next to Town. Example:
Airbnb & VRBO (Short Term Rental) License Eligibility by Las Vegas Municipality:
- Las Vegas – Unless you live in the home, you cannot get an Airbnb / VRBO (Short Term Rental) license.
- North Las Vegas – Unless you have owned the home one year AND it is less than 660 feet away from another Airbnb, you cannot get a license.
- Henderson – If it is less than 660 feet away from another Airbnb, you cannot get a license.
- Anything Else (Sunrise, Paradise…) – You cannot get a license YET. There are about 8,000 short term rentals in Clark County and we predict it will be a major dog pile when the county allows licensing (probably December 2021). We predict that only 4,000 will pass the minimum distance rule. We do not know how this is going to go down or how the county will determine who gets a license. Jim Eagan is the Vice President of the local short term rental association so he’s on top of it.