Airbnb in Vegas help

[Jacob Prelle]

I've recently heard that an Airbnb in Vegas can do pretty well. After a quick internet search, I've learned that you should 

1. avoid HOAs and 

2. the new laws may limit you to only airbnb in North Las Vegas (otherwise you're limited on time of renting).

What's the type of property I should look at? My guess is SFR with as many rooms as I can and as close to the strip as I can.

How much money am I looking at to spend? I would like to purchase for under 300k. Is that going to get me anything good?

If anyone has an excel file with financials, I'd love to see it. Honestly just trying to figure out if it's a good option or more of a headache.

Thank you in advance!

[Neil Henderson]

The Las Vegas short term rental market is in flux.

Short term rentals under 30 days are prohibited in Clark County and the City of Henderson.

They are allowed in the City of Las Vegas, but you must get a yearly business license for $500 plus a newly implemented Special Event license for an additional $500. The rental unit must not be with 600 feet of an existing short term rental. The rental must display a plaque on the outside that explains that it is a short term rental, the property owner’s name (not the manager) and the property owner’s phone number.

There are no restrictions on short term rentals in the City of North Las Vegas, but it’s not the most desirable part of town, for the most part.

AirDNA is a great resource for market data.

The City of Las Vegas has a website and a phone number for short term rental information. Should be pretty easy to find on Google. I’m on my phone otherwise I would Post the link.

Good luck to you. Short term rentals can be a very profitable and rewarding niche. Just realize it is far from passive and the regulatory landscape in many metropolitan areas is shaky.