Medium term rental in Las Vegas

Medium-Term Rentals
3yFollow

Medium term rental in Las Vegas

Mark JaskowskiPro Member
Member since 2023 · 9 posts · 5 votes

Hello BiggerPockets,
I recently got the opportunity to purchase an off market property in Las Vegas about 15 minutes west of the strip. I live in New Jersey and would like to make this a medium term rental. Just curious what that market is like and if this is good idea for the area and what rates are like. It is a three bedroom/2 bathroom, about 1900 ft.² and has a pool. I would like to have a property manager run everything for me as well. Any suggestions? Thank you.

1Reply
35 views

Most Popular Reply

Yu Liu
Investor · Tallahassee · Member since 2019 · 249 posts · 93 votes
3y

I know some people in Vegas, feel free to send me a message

2Reply
See this reply in the discussion

17 Replies

Jump to latestLatest
  • Megan Poppenhouse
    Las Vegas, NV · Member since 2016 · 8 posts · 1 vote
    3y
    I am located in Las Vegas. I sent you a connect request. I can try to help you with some of you questions or point you to someone who can. Quote from @Mark Jaskowski:

    Hello BiggerPockets,
    I recently got the opportunity to purchase an off market property in Las Vegas about 15 minutes west of the strip. I live in New Jersey and would like to make this a medium term rental. Just curious what that market is like and if this is good idea for the area and what rates are like. It is a three bedroom/2 bathroom, about 1900 ft.² and has a pool. I would like to have a property manager run everything for me as well. Any suggestions? Thank you.


    0Reply
  • Yu Liu
    Investor · Tallahassee · Member since 2019 · 249 posts · 93 votes
    3y

    I know some people in Vegas, feel free to send me a message

    2Reply
  • Joy Li
    Member since 2024 · 8 posts · 1 vote
    2y
    Quote from @Yu Liu:

    I know some people in Vegas, feel free to send me a message


     Hi Yu,

    I am seeking a property manager who can do midterm rental in Las Vegas. Would you mind connect me with them? Thanks in advance

    0Reply
  • Kristina Krich
    Member since 2023 · 17 posts · 8 votes
    1y

    Hi Mark!  I am thinking of investing in a MTR in southwest Vegas,  What has your experience been like?

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    1y

    U want to google insurance companies who place their clients that have had fires etc.

    thats what I do for the last 5 years.. top quality tenants no need for PM .. backed by insurance.

    my unit normal rent about 2k we get double that.. ours is  townhouse Gated prime area of Summerlin.. not all areas are great in Vegas the closer to the strip the grungier it gets.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
    • Kristina Krich
      Member since 2023 · 17 posts · 8 votes
      1y
      Quote from @Jay Hinrichs:

      U want to google insurance companies who place their clients that have had fires etc.

      thats what I do for the last 5 years.. top quality tenants no need for PM .. backed by insurance.

      my unit normal rent about 2k we get double that.. ours is  townhouse Gated prime area of Summerlin.. not all areas are great in Vegas 

      0Reply
    • Kristina Krich
      Member since 2023 · 17 posts · 8 votes
      1y
      Quote from @Jay Hinrichs:

      Thanks Jay! I was thinking of that as well! I am looking in Rhodes ranch. How do you get double the rent? Do you ask for it or do they just pay but they think it’s worth? 

      0Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1y
      Quote from @Kristina Krich:
      Quote from @Jay Hinrichs:

      Thanks Jay! I was thinking of that as well! I am looking in Rhodes ranch. How do you get double the rent? Do you ask for it or do they just pay but they think it’s worth? 


      u set the fee.. these are furnished of course. so in our case this was a second home we used for a few years so it was furnished .. not over the top like if we lived there permantly but still nice.  for us location is what made it popular..  its never been more than 5 to 7 days to re rent. 
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      1Reply
    • Colin C.
      Real Estate Broker · San Diego, CA · Member since 2016 · 21 posts · 7 votes
      1y
      Quote from @Kristina Krich:
      Quote from @Jay Hinrichs:

      Thanks Jay! I was thinking of that as well! I am looking in Rhodes ranch. How do you get double the rent? Do you ask for it or do they just pay but they think it’s worth? 


      Double check on what the HOA allows. 60 or 90 days minimum is going to be tough. Lots of vacancy.

      0Reply
  • Bonnie LowPro Member
    Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
    1y

    Talk to @Allen Duan - he manages numerous MTRs in the Las Vegas area and knows it very well.

    [email protected]
    0Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1y
      Quote from @Bonnie Low:

      Talk to @Allen Duan - he manages numerous MTRs in the Las Vegas area and knows it very well.


       Bonnie did you move from Redding Cottonwood ? 

      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      0Reply
    • Bonnie LowPro Member
      Lender · Asheville, NC · Member since 2016 · 1k+ posts · 1k+ votes
      1y
      Quote from @Jay Hinrichs:
      Quote from @Bonnie Low:

      Talk to @Allen Duan - he manages numerous MTRs in the Las Vegas area and knows it very well.


       Bonnie did you move from Redding Cottonwood ? 


       I did, Jay. It's been a long road (literally and figurately) that brought me to North Carolina. I still have properties in Norcal, though.

      [email protected]
      0Reply
    • Allen DuanPro Member
      Property Manager · Los Angeles, CA · Member since 2022 · 590 posts · 463 votes
      1y
      Quote from @Bonnie Low:

      Talk to @Allen Duan - he manages numerous MTRs in the Las Vegas area and knows it very well.


       Thanks Bonnie! Correction, I do manage many MTRs but most are in the Los Angeles area. We currently have one MTR in Las Vegas we manage.

      1Reply
    • Kristina Krich
      Member since 2023 · 17 posts · 8 votes
      1y
      0Reply
  • Kristina Krich
    Member since 2023 · 17 posts · 8 votes
    1y

    Sounds good, thank you! One last question please 🙏… this is my first rodeo so it is only a 2BD/2BA condo in a community with really nice resort style  amenities. Do you think that’s too small? Do they mainly look for houses?

    0Reply
  • Jacob Morgenstern
    Property Manager · USA · Member since 2018 · 85 posts · 50 votes
    1y

    I find that medium term rental sites like Furnished Finders do best with apartments and 2 bedroom accommodations. For a 3/2 you might have a hard time pricing it effectively for the MTR market. If you were to find mid-term rentals, I would suggest filling it up with Short Term Rental bookings in between MTR bookings

    0Reply
    • Jay HinrichsBusiness Member
      Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
      1y
      Quote from @Jacob Morgenstern:

      I find that medium term rental sites like Furnished Finders do best with apartments and 2 bedroom accommodations. For a 3/2 you might have a hard time pricing it effectively for the MTR market. If you were to find mid-term rentals, I would suggest filling it up with Short Term Rental bookings in between MTR bookings


      Vegas has pretty strict STR rules thats why folks go MTR there and the HOAs as well most wont allow them unless its in a condotel type thing.
      Podcast Guest on Show #222
      JLH Capital Partners51 Review
      WebsiteView Page
      1Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free