It’s true, the Las Vegas eviction moratorium is coming to an end July 31, 2021. Now keep in mind that this is not an all-out ban on evictions. It only pertains to Clark County tenants specifically affected by COVID19 and covered under the CDC Declaration form.
Las Vegas’ #1 Property Management is proud to report that at Triumph Property Management our delinquencies have stayed under 5% throughout the entire pandemic. Our team has been assertive and proactive since COVID hit in communicating with tenants, negotiating repayment plans, and acting on formal notices when able.
We will continue to stay diligent as the moratorium sunsets and we do not expect any further extensions, which is good news!
Now that the legislative session has ended here in Las Vegas, Nevada, there are a handful of new bills that have passed:
- AB141– Seals evictions related to COVID19.
- AB308– Late fees may only be assessed after the 3rd of the month.
- AB486– If the tenant is mid-rental assistance approval, then the eviction stays until an outcome is reached.
The Las Vegas real estate market is still going strong… maybe stronger than ever before. With such an imbalance of supply and demand and prices continuing to go up, up, up you can pretty much bet that there will not be a slow down in pace anytime soon.
Inflation continues to soar and interest rates are still low. There was more money printed in the last 12 months than literally ever before! As history always repeats itself, there is no better place to put your cash than in real estate.
While you may be tempted to sell right now, you will need to put that money somewhere once you cash out. Listings are hard to secure and prices are at an all-time high so just keep that in mind when deciding if you should liquidate your investment.