30 Day Airbnb Short term rentals in Las Vegas

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30 Day Airbnb Short term rentals in Las Vegas

Reynaldo Fadri
Las Vegas · Member since 2019 · 2 posts · 2 votes

Hello, Short term rentals are fairly restrictive in Las Vegas and Henderson area. An alternative would be to do monthly rentals which would get away from all those crazy restrictions.  I was wondering if anyone had any success in doing this or if there is a market for this scenario in the Las Vegas and Henderson areas. Thank you!

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Zach Edelman
Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
3y

Common theme in STR space is in markets where less than thirty day stays are permitted, investors are switching to medium term rentals. This is strategy can be especially beneficial in areas with a lot of healthcare workers, contracted laborers from big corporations (ex: In Houston, Oil Companies need a place to staff all of their workers.), etc.

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  • Luke CarlPro Member
    Rental Property Investor · Tennessee Florida · Member since 2016 · 4k+ posts · 5k+ votes
    4y

    30 days requires a lease therefore it is not a sort term rental and this isn’t the right forum. Most folks would call this a mid-term or MTR. 

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  • Don KonipolBusiness Member
    Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
    4y
    Quote from @Luke Carl:

    30 days requires a lease therefore it is not a sort term rental and this isn’t the right forum. Most folks would call this a mid-term or MTR. 

    Is their a mid term rental forum on BP?  I thought that short term rental were anything less than 6 months?
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  • Gaby Liu
    Investor · Los Angeles · Member since 2019 · 118 posts · 102 votes
    4y

    Hello , Reynaldo, I was wondering how did your mid term rental go of your vegas house? 

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  • Jewel B.Pro Member
    New to Real Estate · Lehigh Valley, PA · Member since 2021 · 352 posts · 121 votes
    3y
    Quote from @Don Konipol:
    Quote from @Luke Carl:

    30 days requires a lease therefore it is not a sort term rental and this isn’t the right forum. Most folks would call this a mid-term or MTR. 

    Is their a mid term rental forum on BP?  I thought that short term rental were anything less than 6 months?

     Short term rentals are under 30 days. In many places, once your renter hits the 30 day mark, they gain legal rights as a tenant. Midterm rentals are 30 days+.

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  • Andrew SteffensBusiness Member
    Tampa, FL · Member since 2022 · 3k+ posts · 3k+ votes
    3y

    Not sure about that market but Mid Term nets negligibly higher returns than LTR in FL.

    I am originally from NJ and coastal markets there will typically do "winter leases" cheap and then do STR/MTR in summer to capitalize on the summer season. I visit Vegas often and would not imagine this as being super lucrative, but I may be wrong!

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  • Robert AdamsBusiness Member
    Real Estate Broker · Henderson, NV · Member since 2009 · 1k+ posts · 373 votes
    3y

    With al the red tape on STR here in Vegas (more so than most markets) MTR is a better option in my opinion. Furnishing a property with good amenities and renting mo to mo will still allow the owner to charge a premium on rents. While the income is not as high as STR the costs are also extremely lower than STR. You avoid all the STR taxes, fees, restictions, fines, etc.

    The MTR rental market is still appealing to those coming in town for WSOP, traveling nurses, corporate rentals, people relocating not sure where they want to buy yet, etc.

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  • Elaine Dea
    Member since 2023 · 6 posts · 2 votes
    3y

    @Robert Adams - just bought a property in Vegas and looking to do MTR - would you have any recommendations for MTR property managers?

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  • Zach Edelman
    Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
    3y

    Common theme in STR space is in markets where less than thirty day stays are permitted, investors are switching to medium term rentals. This is strategy can be especially beneficial in areas with a lot of healthcare workers, contracted laborers from big corporations (ex: In Houston, Oil Companies need a place to staff all of their workers.), etc.

    10Reply
  • Josh Edelman
    Real Estate Agent · Las Vegas · Member since 2018 · 198 posts · 143 votes
    3y

    Just some quick info for you. Sounds like mid term rental and you won't need a license. But here is the regulation in short form:


      🌙 - Short-term rentals are defined as rentals of less than 30 days.
      💼 - Under the new regulations, property owners will need to obtain a short-term rental permit, pay a fee, and comply with various safety and health requirements.
      🛌 - The regulations also limit the number of occupants in a short-term rental to two persons per bedroom plus two additional persons.
      📞 - Short-term rental operators must also provide contact information to neighbors and respond to complaints within 30 minutes.
      💬 - The regulations were developed with input from stakeholders, including short-term rental operators, residents, and community organizations.

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