AVAILABLE DATA ON LAS VEGAS APARTMENT AND CONDO RENTALS

As there is very little in the way of statistics
available on Condo rentals as opposed to Condo
sales, here is what we have put together from
talking to Las Vegas Realtors and Agents:

Apartment occupancy in the Vegas valley improved to 92.7 percent in the third quarter, up from 92 percent in the previous quarter and the highest it's been in 3 years business advisory firm Applied Analysis reported.

Realtors contacted about Condo rentals all seem to agree that if purchased Condos are rented at about the same price as comparable sized Apartments, the Condos rent quickly as most people would prefer living in a Condo.

Many realtors use their Multiple Listing service to rent Condos which expedites the rental, sometimes in as little as one week.

The highest rents were found in the southwest valley at $910 a month, Applied Analysis found; the lowest rents in the northeast.

The key to quickly renting Condos is to compete with Apartment rental prices all participants agreed.

(Please read the previous blog concerning the estimated return on Condo rentals.)

Irv