| Property Management Las Vegas & Henderson Nevada

2022 Vegas Rental Market Update for Long-Term Investors

Vegas Rental Market Update 2022-2023

Property Manager Vegas Heidi Rice — Heidi Rice Vegas & Henderson Property Manager

The Las Vegas residential real estate market and Vegas rental market have been experiencing market disruptions since the onset of the pandemic. Here are a few of the contributing factors: 1) pandemic resulting in high demand due to an influx of people moving to Vegas 2) Government interference limiting supply with eviction moratoriums/foreclosure forbearances 3) former housing cycle limiting supply due to low inventory of new homes built 2007–2016 and 4) institutional investors focusing on the SFR asset class.

The institutional investors have been swarming our market with cash offers to get their hands on houses under $400k to capitalize on strong demand and low supply in the Vegas rental market. Here’s an article that references the billions and billions of dollars being pushed into this asset class typically reserved for accidental landlords and mom and pop investors.

Las Vegas is experiencing very low inventory for single family rentals and, as a result, rent rates have drastically increased over the last 3-6 months. We have seen about a 20-25% increase in market rent rates from just 12 months ago. There is also very low inventory of single-family homes for sale with a lot of cash buyers competing at the entry level price point driving sales prices up and forcing potential buyers to seek the rental market instead.

In addition, there have been recent legislative changes that have impacted property management in Nevada. AB308 Impacts “increase of rent” notices: for a periodic tenancy of 1 month or more, 60 days in advance of the first rental payment to be increased (up from 45). AB141: seals eviction records for evictions for nonpayment of rent during the COVID-19 emergency, not the sealing of all evictions during the emergency.

Lease Renewals in 2022-2023 for Long-Term Investors in the Vegas Rental Market:

There are definite benefits to pricing lease renewals correctly to incentivize high quality, long-term Tenants to remain in place.

Pricing a rental property correctly is an important factor in the long-term success of your investment. There is a balance needed between attaining the highest rent rate and attracting/keeping highly qualified long-term tenants. There are always higher risk renters that will pay a premium out of desperation to secure a rental home. While this higher rent rate can be attractive from a short-term perspective the long-term costs of not placing/keeping qualified tenants can far exceed the financial benefit of the extra rent.

With landlord’s rights being impacted by government policy it is very important to secure and maintain highly qualified tenants. I have always placed a strong emphasis on approving quality tenants, and because of this, our company has experienced 100% rent collection in the Vegas rental market during the pandemic. In addition, we have never had to evict a tenant we’ve screened and placed into a managed rental property.

2022-2023 lease renewals:

Here’s a sample lease renewal form a Property Owner/Property Manager would mail to an existing Tenant in the Vegas rental market. The form offers Tenants the option to extend their lease for another year or stay month-to-month.

2022 - 2023 (60) Day Notice_Lease Extension or month to month Tenancy

Due to AB308 lease renewal offers need to be mailed to Tenants earlier than in year’s past. If notice of change of terms of rental agreement is not provided 60 days prior to lease expiration the Las Vegas Association of Realtors lease automatically converts to a month-to-month tenancy at the current rent rate.

Two rent rates are needed for the attached form prior to signing and mailing to Tenants:

1. What rent rate do you want to offer the one-year lease renewal?

2. What rent rate do you want to offer the month-to-month option?

What is the Future of Las Vegas Rental Market?

I’m fascinated by the overall real estate market disruption from the pandemic (influx of people/govt manipulation with eviction moratoriums, etc.) and now the further disruption in our local market from hedge funds swarming the entry level SFR market.

Hedge funds are not the sole reason of rents going up but they are a factor because they work off spreadsheets and are an unemotional investor. The local community is being squeezed financially with increased rent rates from increased demand/low supply (variety of factors from the pandemic and previous housing cycle). Many of my Owners are feeling the humanitarian need not to take current tenants to the higher market rent rates.

Mom and pops investors have a significantly different view on ROI. Institutional investors are coming into our market and are working off spreadsheets.
Heidi Rice, Property Manager from Las Vegas

Many long-term investors were at market rent prior to the spike in rents over the last 3-6 months. We’re hitting the 1 year mark of the start of higher rents so I’m having daily conversations with Owners educating them about the rapid changes in our market. Lease renewals are super relevant at this point because rents have spiked significantly in such a short period of time. Long-term investors may be hundreds of dollars under market in just one year as most tenants are on 1 year leases.

I too am curious to see how this all plays out in 5-10 years. There is a chance the Las Vegas rental market and overall housing market comes out of this crazy pandemic housing OK as we are still a relatively young city and the residential sector is well funded with cash at all levels. I believe the turning point will be when/if the institutional investors decide to liquidate en masse due to low returns or from future government polices trying to regulate their investment.

Property Management Las Vegas » Property Management

Las Vegas Investment Properties 2021-2022

By Rice Real Estate

Willing to invest in A and B class residential real estate? Then Las Vegas is one of the best places to buy investment properties. This rapidly growing city is one of the hottest real estate markets on the west coast. Right now it is the best time to buy and rent a property in Las Vegas, as the market has not reached its peak yet. But the question always is…where are the best neighborhoods for buying Las Vegas investment properties? Here are 3 examples of class A and class B investment properties across the valley.

Las Vegas Investment Property Example # 1

Westwood Village neighborhood: 204 Thurston Street Henderson 89074

Market rent – $1700/mo
Market value – $350k
est. taxes – $140/mo
Insurance – $45/mo
HOA – $15/mo
Mgmt – $136/mo

Las Vegas Investment Properties — Example # 1 Westwood Village

Las Vegas Investment Property Example # 2

Green Valley Ranch: 1979 Thunder Ridge Circle Henderson 89012

Market rent – $2200/mo
Market value – $450k
est. taxes – $175/mo
Insurance – $55/mo
HOA – $63/mo
Mgmt – $176/mo

Las Vegas Investment Property Example # 3

Red Rock Country Club (guard gated): 1990 Country Cove Ct. Las Vegas 89135

Market Value – $1,000,000
Market rent – $5000/mo
Taxes – $770/mo
Insurance – $120/mo
HOA – $245/mo
Mgmt – $400/mo

Low property taxes are one of the main reasons Las Vegas investment properties are so attractive. On average property taxes are about 1/2% (.005%) of the purchase price. For example, a property purchased for $350k would incurred annual property taxes around $1,750 annually ($146 monthly). This public search page can be used to determine current property taxes for any property in Las Vegas and Henderson: Clark County Treasurer.

Rice Real Estate & Las Vegas Investment Properties

With more than 25 years experience with investment real estate & property managementwe understand the needs of our clients no matter where they are in the investment cycle. Whether you’re buying, selling, or looking for full service property management we will put our resources and experience to work and drive your profitability. Rice Real Estate & Property Management is known for the caliber of service we offer our clients. Through excellent communication, personalized service and our company’s high standards we have earned the long-term respect of property owners.

By utilizing our proprietary screening system, we have never had to evict a Tenant placed into a managed rental property.
Heidi Rice, Property Manager

Experience.

Founded in 2010, Rice Real Estate is Las Vegas’ premier investment sales and property management company. Our firm has crafted a culture designed around full transparency, reliable communication, and efficiencies for both owners and tenants. Furthermore, our policies and procedures allow us to effectively optimize a property’s performance and profit while nurturing Tenant relations to keep long-term quality tenants.

Expertise.

We are investment property specialists and use a process-driven approach to increase efficiencies, reduce risk and drive performance and profitability. We are experts in our field and selective when it comes to new partnerships in order to provide the highest level of attention to each one. Our company voice reflects the high standards we demand of ourselves and we deliver these high standards to you with quality property management.

Owner’s Mindset.

We manage with an owner’s mindset. Our ultimate goal is to increase owner profit while focusing on preserving the integrity of the investment. We understand each day a house is vacant equates to lost rental income so we work hard to quickly turn properties over and place quality tenants. Our efficient vendor accounts payable strategy provides us priority scheduling and preferred pricing. In addition, our team responds to emails and phone timely, tenant maintenance requests are handled promptly and Owners have 24/7 access to an encrypted online portal for financial reports and secure document storage. We make sure to be informative and transparent every step of the way.

Our firm is responsive. We respond to Owners in less than 4 hours and less than 8 business hours for Tenants.
Mark Rice, Owner

Mark Rice: Owner | Broker-Salesperson BS.143525

Property Management Vegas About Us — Mark Rice, Owner & Lead Agent

Mark has over 15 years of real estate industry experience. In 2010 he moved to Las Vegas with his wife Heidi and opened a residential real estate brokerage focused on investment sales & property management. While Mark can assist with the purchase and sale of any residential property in Las Vegas his primary investment model focuses on detached single family residences.

Prior to founding Rice Real Estate Mark was a top performer with Bank of America’s consumer mortgage division. Mark utilizes hisfinance and economics background to generate attractive returns for Rice Real Estate’s investment clients.

Mark guides investors to high quality assets and focuses on neighborhoods where he sees growth potential driven by economic and demographic trends. Our firm’s management portfolio provides him proprietary insight into investment properties in Las Vegas, Henderson, Green Valley and Summerlin. Mark guides his clients with integrity allowing them to invest capital in residential real estate with conviction.

Heidi Rice: Broker | Property Manager | Realtor | B.1000740

Heidi has been managing residential real estate since 2001. She is a very thorough, professional, and responsive property manager.

Heidi’s financial reporting is timely each month, along with copies of all receipts & full accounting – completely transparent. She has good control over her vendors and the workmanship is excellent. The move-in and move-out inspections contain hundreds of time-stamped and dated photos which make the inspections very thorough with great attention to detail.

Heidi is dedicated and highly skilled. She has always had a passion for real estate investing and she is living her dream life as an investment focused property manager in fabulous Las Vegas, Nevada.

Contact her directly to confirm your property is in her management service area: 702-551.9592 ext 700 or via email.

Investment Housing Trends Las Vegas 2021-2022

By Rice Real Estate

What in the world in going on with Las Vegas housing? Why are local housing prices up 20% in less than 4 months? To better understand current investment housing trends in Las Vegas you need to understand the simple economics of housing supply being kept artificially low by government policies and the pandemic:

investors swarmed our market from 2010-2017. Almost half of detached single family homes are owned by cash investors and these rentals houses are occupied by Tenants.
There is a Governor mandated eviction moratorium through May 31st, 2021. Landlords cannot serve evictions notices to get Tenants out which is limiting our housing supply. This has been extended multiple times and there are concerns it may be extended again
The governor has also limited landlords from serving 30 day “no cause” notices to vacate if a tenant is delinquent on rent. Landlords are having a hard time gaining control of their properties which is limiting supply
Some homeowner’s are terrified of COVID and would have wanted to sell but don’t want strangers entering their house (limiting supply)
As a real estate broker and property manager many houses are being sold and rented to people moving here from out of state for remote work or other reasons. We have a tremendous increase in demand
Shannon Chambers, president of Home Means Nevada, a state-affiliated nonprofit organization that assists homeowners, estimated that more than 8 percent of mortgage loans in the state are in forbearance, which she said is upwards of 100,000 loans.
CA residents are coming to Nevada for the low cost living, no state income tax and other reasons…this is pushing up demand.

For additional reading, here is an article by the Senior Industry Fellow at Joint Center for Housing Studies of Harvard University titled: “THE EXTRAORDINARY AND UNEXPECTED PANDEMIC INCREASE IN HOUSE PRICES: CAUSES AND IMPLICATIONS”

It’s a fascinating read for anyone trying to understand why the Las Vegas residential real estate market is seeing 20-30% appreciation during the first 4 months of 2021.

Henderson Property Management

By Rice Real Estate

Since 2010 Rice Real Estate has been the preferred Henderson property management company for out of state investors. Your real estate investment properties are important to you which is something we genuinely appreciate. As rental owners ourselves, we know how much you have riding on the success of your investment property. Fortunately, we also know what it takes to develop and maintain a successful rental which makes us your perfect choice as your property manager. As a Henderson property management company we feel vested in the community and enjoy sharing what we know about Henderson.

ABOUT HENDERSON

Henderson is the 2nd largest city in Nevada (after Las Vegas) with an estimated population of 350,000 and over 103 square miles. The City of Henderson’s official slogan “Henderson-a Place to Call Home” reflects a community that enjoys small town values while benefiting from big city efficiencies. Over half a century ago during a visit to Southern Nevada, President John F. Kennedy predicted that the then fledgling City of Henderson was a “city of destiny.” Little could he have known just how accurate a prediction he was making.

UNIQUE THINGS TO SEE & DO IN HENDERSON

Henderson Bird Viewing Preserve: Nevada’s only scenic bird preserve is home to thousands of migratory waterfowl as well as numerous resident desert birds. There are nine ponds available for birding, surrounded by both paved and soft surfaces. The paved path is approximately 3/4 of a mile long and is accessible by wheelchair. The soft surfaces are mostly level and allow for easy walking.
Historic Railroad Trail: The Historic Railroad Trail is an easy, dog-friendly hike along a former railroad grade. It provides panoramic views of Lake Mead, overlooking the Boulder Basin area. Fun Fact: This is the only remaining section of Hoover Dam Railroad system that is not highly disturbed or under water.
Ethel M Botanical Cactus Gardens: Ethel M Chocolates’ breathtaking Botanical Cactus Garden is Nevada’s largest and one of the world’s most prolific collections of its kind. Based on the English landscape model of naturalistic design, the Ethel M Botanical Cactus Garden features three acres of drought-tolerant ornamental, cacti, and other succulents. The gardens, and the factory itself, are open to the public with no admission charge.

UNIQUE EATS IN HENDERSON

CRAFTkitchen: If you want to rethink your typical Vegas breakfast buffet special, check out CRAFT for brunch. It prides itself on local, organic eats and offers loads of healthy options. Their specialties are house-made pastries, fresh takes on classic comfort foods and bottomless mimosas.
The Stove: The chefs pride themselves on supporting local farmers, bakers, small vendors, supporting the local market to keep locals thriving! Their brunch caters to the 21-plus crowd. The dining room is set on the second story overlooking the Las Vegas Strip and Mountain Views from around the valley.
Kitchen Table: The restaurant’s concept was inspired by Chef Javier’s mother, who believed the kitchen table was the heart and soul of the family. Chef Javier Chavez uses his extensive culinary experience and passion for food to put a spin on traditional breakfast items while creating dishes with bold flavors and exquisite presentation.

PLACES TO STAY IN HENDERSON

Green Valley Ranch Resort Spa and Casino: With unparalleled accommodations, a striking European-inspired aesthetic, and incomparable amenities, Green Valley Ranch offers a refined off-the-Strip resort experience—all amongst one of Las Vegas’ most coveted and convenient locales.
The M Resort Spa Casino: An off-strip luxury hotel offering panoramic views of the Las Vegas Strip and the mountains through the resorts unique floor-to-ceiling windows. Dine on everything from prime steaks and seafood to Asian fusion and homemade pasta. M Resort Spa Casino offers an unrivaled off-strip experience, featuring a modern architectural design, state-of-the-art amenities and a luxury resort philosophy.
The Westin Lake Las Vegas Resort and Hotel: The Westin Lake Las Vegas Resort & Spa offers a world of opportunities for recreation, exploration, and relaxation. The Westin is a full service, Four Diamond resort nestled on the shores of Lake Las Vegas just a few minutes outside of the Las Vegas Strip… a short drive from the energy of the Las Vegas Strip, but with an atmosphere of tranquility that feels a world away.

PRIVATE SCHOOLS IN HENDERSON

Our Commitment to Henderson Property Management

Experience.
With more than 20 years in Henderson property management we understand the needs of our clients no matter where they are in the investment cycle. Whether you’re buying, selling, or looking for high-end property management, we can put our resources and experience to work and drive your profitability.

Expertise.
We know how to effectively manage everything your investment needs, whether it’s a simple repair or a complete remodel. Our team has managed many construction rehab projects. We’ll care for your property and make it better when the time comes.

Transparent.
Take a look at your property performance at any time. Simply sign into the online Owner portal to view your latest statements, inspection reports, and account notes. Our software system is Buildium. Call 702-551.9592 ext 1 or contact us. License B.1000740.LLC and PM.0164747.BKR.

Rice Real Estate & Henderson Property Management

Rice Real Estate is a full service Henderson Property Management company offering worry-free rental property management. Rice Real Estate is committed to connecting responsible property owners with quality residents to ensure a stress-free experience. Rice Real Estate specializes in residential property management of unfurnished homes in Las Vegas and Henderson. We are a full-service, locally owned and operated Henderson Property management company.

Rice Real Estate is selective when it comes to new Henderson Property Management partnerships, adding only a few properties each year in order to provide the highest level of attention to each one. Our team is fully committed to safeguarding our client’s property and bottom line at all times. To confirm we will manage your rental property call 702-551.9592 ext 1 or contact us.

Property Management Las Vegas » Property Management

Vegas Property Manager

By Rice Real Estate

Rice Real Estate is a full service Vegas Property Management company offering worry-free rental property management. Rice Real Estate is committed to connecting responsible property owners with quality residents to ensure a stress-free experience. Rice Real Estate specializes in high-end residential property management of unfurnished homes in Las Vegas and Henderson. We are a full-service, locally owned and operated Las Vegas Property management company.

Rice Real Estate is highly selective when it comes to new Vegas Property Manager partnerships, adding only a few properties each year in order to provide the highest level of attention to each one. Our team is fully committed to safeguarding our client’s property and bottom line at all times. To confirm we will manage your property call 702-551.9592 ext 1 or email us.

How Are Applicants Screened?

The strongest work of a Vegas property manager must take place with the screening process. Securing great tenants is in everyone’s best interest. We use a state-of-the-art resident screening process that analyzes income, credit, rent payment history, employment history, background check and other factors that indicate the likelihood the tenant we place in the home will perform according to his/her obligations under the rental contract. Note: by utilizing our scoring card, Rice Real Estate has never had to evict a Tenant our Las Vegas property manager placed into a managed rental property. Download Rice Real Estate’s Scoring Card here.

How Is Turnover Minimized?

Quickly following up on maintenance requests not only keeps the tenant happy but will also keep the property in good condition. We will advise our owners on what items should be repaired versus replaced, deferred versus immediate. Rice Real Estate maintains a proper balance between tenant loyalty and maximizing income.

Protecting your asset also means using experienced repair and maintenance professionals. Rice Real Estate maintains excellent relationships with highly rated vendors. This allows us to quickly and correctly diagnose problems and fix them right the first time. Rice Real Estate diligently protects your asset by ensuring your home is maintained properly.

How Do We Market And Advertise?

Rice Real Estate is very serious about finding highly qualified tenants and does everything possible to capture the greatest applicant pool. Our rental properties appear on numerous websites and we advertise to 11,000+ local agents.

Unlike most of the property management companies in Las Vegas we understand the importance of being available when the prospective tenant has the time. For this reason, we answer and respond to phone calls, text messages and emails every day of the week, including Saturdays and Sundays. Rice Real Estate’s average days on market for a “rent ready” vacant property averages 7-14 days.

Our rigorous screening process and detailed scoring system help ensure we secure highly qualified tenants for your property. Note: by utilizing our scoring card, Rice Real Estate has never had to evict a Tenant we placed into a managed rental property. Download Rice Real Estate’s Scoring Card here.

How much rent will my property bring?

Rice Real Estate performs ongoing rent surveys of the Henderson and Las Vegas market to stay abreast of changes in the marketplace. We will recommend a rental rate based on a number of factors, including how quickly you need to rent the property and how the property stacks up against the competition in the local market. Our recommendation is just that – a recommendation. Should you desire, you can have the final say as to the rental rate.

What Kind Of Condition Does My Property Need To Be In To Find A Quality Tenant?

The property’s condition is one of the most important aspects of marketing a vacant rental property. Properties that are not “Rent Ready” when they’re placed on the rental market tend to be slower to rent and attract renters who are not only willing to settle for less than top quality, but who treat their rental properties with less care and concern than we want to achieve for our owners. Furthermore, quality renters typically can’t envision what the property will look like after we do this or that…telling the prospect we’re going to be painting, or going to be replacing carpets is virtually useless. The first impression of a vacant property is the lasting impression of that property. That’s why we urge our owners to take care of the basics: fresh paint, clean floor coverings, functional window blinds, and everything in good working order.

Are Pets Allowed In Rental Properties?

An Owner makes the final decision if pets are allowed in a rental property. However, keep in mind that 65 – 70% of tenants will have a pet of some type. If you do not allow pets, you are immediately negatively impacting your market. We can certainly still rent your home but it might take a little longer so you could experience extended vacancy and therefore lost rent. If you do allow a pet, a pet addendum will be signed and additional security deposit is required.

Don’t confuse a “pet” with a “service” or “companion” animal. It is illegal to discriminate against service animals, so we will absolutely rent to a tenant with a verifiable service animal. We cannot take any additional security deposit, nor can we decline any specific breeds that we might otherwise not allow in our properties.

What Happens When My Property Needs A Repair?

Any repair or maintenance costing less than $300 will be executed by Rice Real Estate’s staff. Most repairs costing more than $300 will be subject to the Owner’s approval.

Emergency repairs do not require prior owner authorization. Emergency repairs are defined as property-threatening; where failure to immediately remedy the situation will result in further damage to the property and/or safety of the tenant. By law, Owners are required to maintain their property in a “habitable” condition for their tenants at all times. Examples of emergency repairs include: flooding, no heat, no air conditioning, no running water, electrical sparks or no functional toilet (if only one toilet). Examples of non-emergency repairs include: lack of hot water or failure of an appliance, including a refrigerator. We do not employ our own maintenance staff and we do *not* profit from any maintenance work done on your property.

What Happens If My Tenant Doesn’t Pay Rent?

Rice Real Estate enforces a very strict rent collection policy to promote our Owners’ interests. All rent payments post on the 25^th of every month and late on the 2^nd day of the month. For example, April’s rent would post on March 25^th and be due April 1^st. If rent is unpaid on the 2^nd day of the month, we make contact with the tenant and a late charge may be assessed. If the rent remains unpaid by the 3^rd day of the month (or, next business day, if the 3^rd falls on a weekend or holiday) an eviction notice for non-payment of rent may be served. The tenant is held liable for the costs of filing and serving the notice.

Under Nevada law, the tenant then has 7 judicial days to pay the rent or vacate the property. In our experience, most tenants will pay full rent before the expiration of the notice. If the tenant does not pay or vacate within the 7 days prescribed, the next step is a court order for lockout.

What Happens If My Tenant Vacates And Leaves The Property Dirty Or Needing Repair?

Rice Real Estate will conduct a move-out inspection of the property once it becomes vacant. We then compare the move-in inspection (including photos) with the move-out to determine what items above normal wear and tear are chargeable to the tenant. To read more about “normal wear and tear” of a rental property click here.

Who Holds The Security Deposit?

Nevada law requires the Las Vegas property manager to hold tenant security deposits in a trust account separate from owner funds.

Our Client Commitment.

Experience.
With more than 20 years as a Vegas Property Manager I understand the needs of our clients no matter where they are in the investment cycle. Whether you’re buying, selling, or looking for high-end property management, Rice Real Estate can put our resources and experience to work and drive your profitability.

Expertise.
We know how to effectively manage everything your investment needs, whether it’s a simple repair or a complete remodel. Our team has managed many construction rehab projects. We’ll care for your property and make it better when the time comes.

Transparent.
Take a look at your property performance at any time. Simply sign into the online Owner portal to view your latest statements, inspection reports, and account notes. Our software system is Buildium. Call 702-551.9592 ext 1 or email us. License B.1000740.LLC and PM.0164747.BKR.

Rice Real Estate. Your Vegas Property Manager.

Property Management Las Vegas » Property Management

High End Property Management. Is Las Vegas the New Luxury Lifestyle?

By Rice Real Estate

As big money continues to move to Las Vegas from high cost and high tax states like California demand for high end property management is seeing a boom. Is Las Vegas replacing California for Luxury Living?

Casino mogul Steve Wynn once said that Las Vegas is where God would go if he had money. Well… maybe so, but it’s also a place where Californians go who can no longer afford their state’s absurdly high cost of living. The so-called ‘California exodus’ has made Nevada the fastest growing state in America for the second year in a row, and according to current census data, ex-Californians now represent 20 percent of Nevada’s population, with nearly 100,000 Californians emigrating to Las Vegas in 2019 alone. Read more about the California exodus from our local online newspaper The Nevada Independent.

High End Property Management in Henderson

Californians have flocked to neighboring states like Nevada which is among the fastest growing in the country. Few places have been as affected as Henderson, whose population surged 20% in the last decade to more than 300,000, pushing it past Reno to become Nevada’s second most populous city.

Fifty-six percent of new arrivals in Henderson between 2013 and 2017 were from California, according to Nevada Department of Motor Vehicles data. Home sales in many of the city’s master-planned communities have been dominated by migrants from the West.

At the 1,300-acre Luxury MacDonald Highlands in the bluffs overlooking Las Vegas, Californians accounted for about 70% of luxury purchases and rentals in 2020, compared with 30% 20 years ago, said Rich MacDonald, the developer. He said he began increasing the share of his marketing targeting Californians over the past three years after seeing the run-up in housing costs there. There is an increased demand for high end property management and luxury rental properties in Henderson.

Las Vegas Raiders Renting Luxury Homes

Former Californians are finding plenty of familiar sights and people. The Raiders have new headquarters and practice facility in Henderson for the team’s move to Las Vegas. Disclaimer: Rice Real Estate has recently rented a high end luxury rental to an assistant coach of the Raiders.

Sunnier locales, lower taxes, and a more affordable cost of living. California’s elite are in pursuit of all three, and they have found that trifecta in Nevada.