Rents are up!

Rents are up! Great news for our clients and all real estate investors who own property in Las Vegas, North Las Vegas and Henderson, Nevada!! Our vacancy rate fell 1.3 percentage points in the past year and is at its lowest level since 2007 according to the Lied Institute for Real Estate Studies who also reported that rents are up 12.1% over last year – just 3 percent below the peak in 2007. While Applied Analysis reported the rents are up 7.2% over the last year there is no doubt that our rents are up! Homes are renting quickly as there is increased demand with the 40,000 new residents who came here during this last year. Do you know if you are getting fair market rent? I would be happy to run a report and give you that info – just email me at Bonnie@AvalonOaktree.com