Drastic Rent Increase
by Clarence Cj Long
Southern Nevada but more specifically, Las Vegas, has been making national headlines with the drastic rise in rent prices. Rent has risen 22.7% over the past year, making our beloved city 2nd only to Phoenix, AZ, amongst the top 50 metro areas covered. Rising rent prices, coupled with the constraints of a worldwide pandemic, has created a very specific stress on the valley’s renters. You know how the story goes, when America catches a cold, we get the flu (no pun intended)!
In comes “Operation Home”, a community-wide effort to quickly and permanently house community members who are at risk of severe illness from COVID-19 and are in need of a home in Southern Nevada. They have a goal to house 2,022 unhoused community members by the end of 2022.
How is this a win-win? Well, while the win for the unhoused is fairly obvious, there are substantial incentives for property owners to enroll in this program; starting with providing a $500.00 bonus per property, and double security deposits. My source also tells me that there will be funds for moderate property improvements and modifications on a case by case basis. For those persons or companies fortunate enough to own an investment property/properties, Operation Home provides an avenue to secure guaranteed monthly rental income with risk mitigation measures in place, in addition to giving back to our community in a most special way.
Please contact Maurice Page : Landlord Engagement Specialist : 702.340.1843 : PageM@
