This resource is for anyone who needs help navigating the Las Vegas home renting process from start to finish. Learn more about the basics of the local market, your rights as a tenant, and everything in between with this step-by-step guide:
Step 1: Know the requirements you need to meet and submit
Start with preparing the requirements that you need to qualify as a renter. These documents and criteria can vary depending on the landlord or property manager, but the most common are:
- Personal information, including birth date, social security number, ID, and contact information
- Bank statements
- Proof of income
- Dates of employment
- Pet ownership and other related information
Landlords and property managers also require potential tenants to fill out a rental application form so they can perform credit and background checks. Leading Vegas Realty charges $45 per adult to perform this service. Anyone over 18 years old who occupies any property managed by LVR is required to go through this process.
Step 2: Plan for the necessary expenses
There are two types of expenses to consider during renting: upfront costs and living costs.
Upfront costs include your application fees, security deposit, and moving expenses. Budget for these expenses before you start the application process.
Living costs include rent, food, utilities, telephone and internet subscriptions, and other everyday expenses. You might also need to pay a monthly fee of up to $100 (this varies based on your lease agreement) to cover minor maintenance and basic repair services if you live in a common building. Renter’s insurance is another recurring expense you need to include in your budget.
Step 3: Know which Las Vegas neighborhood is best for you
While Las Vegas is best-known for the flashy, upscale lifestyle that the Strip offers, there are many more exceptional neighborhoods to discover in this great city.
To help you choose the right neighborhood, consider factors like traffic, community amenities, and local highlights that match your day-to-day needs or preferred lifestyle. Do your research by reading various community profiles online, consulting with your local real estate agent, and – if your schedule allows it – visiting different neighborhoods to see them firsthand.
With assistance from your agent, explore different neighborhoods in Las Vegas and the range of available properties for rent in each one.
If you are looking for apartments and townhomes surrounded by expansive green spaces and various recreational facilities, explore the diverse options in the coveted Las Vegas neighborhood of Summerlin. Want to surround yourself with top attractions, events, and the best of modern urban luxury? Look for your home in Downtown Las Vegas.
If you want to take root in one of the fastest-growing communities in the state, look into the North Las Vegas rental market. You can also explore Henderson, a beautiful suburb south of Las Vegas known for its vintage architecture and for being home to the highly sought-after Lake Las Vegas waterfront community.
Step 4: Understand your lease terms
Read and understand every provision before signing any lease agreements. Take note of details like the duration of the lease, rent payment schedules, and your responsibilities and rights as a tenant. The terms and clauses in the document are legally binding, so sign only if you fully agree with everything.
Consult your agent and attorney for any questions and clarifications. Use their expertise to spot potential loopholes in your contract that might lead to legal or financial problems.
Step 5: Know your rights as a tenant
Learning your rights gives you the ability and confidence to stand up for yourself in the event that your landlord or property manager treats you in a questionable or unjust manner.
Nevada state law establishes the following tenant rights and landlord regulations:
- The right to withhold rent or to “repair and deduct”
A tenant is allowed to withhold rent when the landlord is incapable of fixing problems that affect living conditions in the rental property. Tenants can also deduct from their rent any cost used to repair serious defects left unaddressed by the landlord.
- Protection against landlord retaliation
Landlords are prohibited from retaliating with a termination notice or a rent increase when tenants exercise their legal right to withhold or deduct rent.
- The right to small claims lawsuits
Tenants can sue their landlord in small claims court for up to $7,000 if the landlord fails to return the tenants’ safety deposit or wrongfully withholds money from the amount due. This ensures that landlords act promptly to process and return the tenants’ security deposit, especially if the tenants are already moving out.
State laws define the parameters under which tenants can exercise this right, including the type of repair needs that justify a repair-and-deduct, the type of notice and amount of time a tenant must give the landlord, and the amount of rent a tenant is allowed to withhold or deduct.
Find the best rental property for your lifestyle with the best real estate agents in Las Vegas, Leading Vegas Realty. Call us today at [ai_phone href=+1.702.545.6050]702.545.6050[/ai_phone] or email [mail_to email=”Emily@LeadingVegas.com”]Emily@LeadingVegas.com[/mail_to].