Any suggestions on how or where to start to lear about str? I'm looking into buying a home in vegas and house or duplex and hacking with airbnb or similar. I've been reading that there are some areas in Vegas in which this is not allowed and/or the owner "needs" to actually be "living in the home" at same time they're renting out to str guest…? Is this accurate? Is this the only way to do so? Would I be able to also rent out my residence for the weekend and go with a friend during the weekends? Is that allowed?
Any feedback would be much appreciated.
@Alex Castillo unless you're staying in the property, Vegas proper isn't going to work out for Airbnb. My company is looking for our own Airbnb in North Las Vegas right now because the laws are more favorable there (feel free to DM me if you want to partner up or have any questions). This article has some great insights on the short-term rental regulations in and around Las Vegas: https://thenevadaindependent.c...
@Alex Castillo the best "short-term" option in Henderson/Las Vegas are fully furnished condominiums where the HOA allows lease terms as short as 30 days. The idea here is to target corporate housing, insurance companies, snowbirds, and those needing to plant their feet in the ground before buying in Vegas. For example, I manage one in Seven Hills area (Henderson) where the current tenant is leasing for 1.5 months while their home is being renovated.
Thanks for your replies.
So to give even a better explanation of what I'm planning I am looking into investing in my first home. I recently started working in Las Vegas. I have family and friends back in L.A. and basically travel back there on weekends together with my wife. I'm planning purchasing a home in Vegas and splitting up a bedroom and bathroom so that I can airbnb to help pay the mortgage. Recently I got the idea to rent out the space where I live on all those weekends in which I'm in California and the home sits empty. Any thoughts or suggestions on this?
I started doing some research and I see that in Las Vegas certain areas require the Homeowner to "live" or be "present" while the str guest is also there on premises. This seems to throw a curve into my plans. Is that something that would prevent me from carrying on my plan I just mentioned? Or as long as I am living in the property the majority of the time, then I would be ok?? Any ideas or suggestions would be appreciated.
@Alex Castillo in Vegas proper it has to be owner-occupied to qualify as an STR, meaning you have to be on-premise and cannot offer the "entire home" on Airbnb. That probably will throw a curve in your plans unless you buy in Henderson or North Las Vegas. I've copy/pasted the rules below in case you don't want to read through the article I posted above...
"Within the City of Las Vegas, short-term rentals are only allowed in owner-occupied homes that have three or fewer bedrooms and are at least 660 feet away from another short-term rental. Rentals must comply with licensing, noise and parking requirements.
Applicants for short-term rental licenses from the city must have the proposed short-term rental inspected by a code enforcement officer and pay a non-refundable application fee of $50 and an annual permit fee of $500. Licensees are also required to provide proof of liability insurance with a $500,000 coverage minimum.
North Las Vegas allows short-term rentals as long as a property owner applies for (and receives) a conditional use permit. After property owners receive such a permit, they must apply for a business license. To receive a license, an owner must send a copy of the city’s Good Neighbor brochure to all property owners within 200 feet of the short-term rental. The conditional use permit has a one-time fee of $100, and the business license fee is $900, paid annually.
North Las Vegas also requires a 660-foot separation requirement from other short-term rentals, and property owners must install noise monitoring equipment outside. Short-term rentals can only exist within multi-family zoning where the units are individually owned and can make up no more than 50 percent of the units or a maximum of eight units (whichever is less within a duplex, condominium or townhouse). Individual room rentals are only permitted if the residential unit is owner-occupied."
@Jimmy Woodard there are also specific areas where a STR is prohibited, even if it fits the other criteria. These are specific planned communities where no STR would be allowed by the city.
@Brian Walters this is correct. The powers that be in Vegas don’t want to make it easy for the rest of us…
@Jimmy Woodard the city is built on tourism and gambling revenue. I get not wanting to jeopardize it in any way. Gotta keep all those hotels filled and people coming so I understand having some level of restrictions.
This city is great, love living here and want what's best for the city more than myself. I don't love the restrictions, but I get it.
Thanks for the feedback Michael. This is an interesting idea that I had not even considered. Do you have any specific suggestion on how to go about finding and attracting these type of renters?