The cities of Henderson and North Las Vegas are now both legally allowing short-term rentals. Management terms for these short-term rentals follow similar protocols as smaller scaled hotels. We often refer to a short-term rental as a home-away-from-home, which allows travelers, whether for business or leisure to experience the local culture. A typical stay ranges anywhere from 2 days to a month.
The increasing popularity of short-term-rentals has led many homeowners to convert their homes into these income producing properties. Short-term rentals are found worldwide, and each home is equipped with its own unique character, integrating convenience, comfort and its own style.
We understand from managing short-term rentals first-hand that this market holds a lot of room for growth that deliver ample investment returns. Based on the short-term rentals that we are currently managing, we see monthly rental income ranging from approximately $2,500.00 to $5,000.00, depending on the time of the year and property conditions.
NVWM Realty created a team that legally and compliantly focuses on short-term rental management. Our team undertakes all application and management related work, so that a homeowner will be able to run a business flawlessly without having to get involved. Management services are composed of three main parts - housekeeping, cleaning service and accounting. Housekeeping services include marketing, scheduling, monitoring daily check-ins and check-outs, guest and customer services, communication, emergency calls, neighborhood coordination, etc. Cleaning services include constant inspecting and monitoring the conditions of the home, housecleaning, repairs and making sure that the home is properly maintained and prepared for the guests. Accounting services include the generating of financial statements, tax management, paying bills, and any other financial related activity. In addition, we also assist in the designing and decorating of the home upon request as well as handle compliance related issues with the city and local government.
Please note that every city and state have their own guidelines.
For more details, please contact Dash, our short-term rental specialist at 702-686-2345. He is fluent in English, Mandarin, and Cantonese.
Short-term rentals are an excellent investment opportunity! You get the best of both worlds of owning real estate and running a business at the same time.