There are currently very slim pickings in the las vegas single family rental home market. The absorption rate remains very low when you look at the entire rental market in Las Vegas (hovers between 2.7-3.2 months.) It is definitely a landlord's market. When you look at some areas in particular, like the Rhodes Ranch area, the absorption rate hovers between 1.2-1.5 months.
One rental sub-market that *is* a renter's market and provides great opportunities for renters is the high rise condo rental market.
There are currently 325 available rental units (10/26/2007) with only 9 under contract (10/26/2007) and only 41 units leased between 9/22-10/22/2007. This equates to 7.9 months of inventory and a Renter's Market!
Prices for Las Vegas High Rise Condo Rentals range from $1145-19000 a month. The median rental list price is $2795/month.
What this all translates to is a more pleasant renting experience as you have more negotiating power and less frustration from having to turn in multiple applications!
We can help you make your next move whether it is a rental or a purchase.
For the Las Vegas Rental Home process explained please go to: www.LasVegasHomeRentals.info
