Reflecting on 2023 and Looking Forward: Property Management Updates

As we step into 2024, it's time to look back at the changes that shaped the property management landscape in 2023. At Sin City Real Estate and Management LLC, we pride ourselves on being industry leaders committed to staying informed about laws and continuously improving our role as landlords and managers.

In the past year, Nevada saw notable legislative developments impacting residential landlord-tenant relationships. While some proposed bills faced vetoes, several crucial changes took effect. As we navigate these updates, we remain dedicated to providing you with the latest information and ensuring compliance.

As part of our commitment to staying at the forefront of industry knowledge, our Broker will be attending the NARPM (National Association of Residential Property Managers) Capital Summit in Washington DC this upcoming month. This summit is a valuable opportunity to stay up-to-date with the latest decisions and connect with leaders influencing the property management landscape.

Now, let's delve into the key changes from 2023 that affect landlords, tenants, and property management practitioners. Our goal is to make sure you are well-informed and prepared for the evolving dynamics of property management. For any inquiries or assistance, feel free to reach out to our experienced team at Sin City Real Estate and Management LLC.

Legislative Changes in 2023: What You Need to Know

1. No More Charging for Repairs (SB381):
Starting July 1, 2023, landlords can't make tenants pay for essential repairs like plumbing or heating. Unless the damage is caused by the tenant, they shouldn't be charged extra for it.

2. Quick Home Sales Get a Pass (SB223):
If you're selling your home and leasing it back for 90 days or less, the usual short-term rental rules don't apply. This change, effective July 1, 2023, is meant to simplify things for short-term arrangements.

3. The End of AB486 (Eviction Mediation):
AB486, which helped tenants during eviction proceedings, expired on June 5, 2023. The program allowed tenants to pause evictions if they had a pending application for rent assistance.

4. New Help for Renters (Fixed Income CHAP and Eviction CHAP):
Clark County now offers two programs to assist renters – Fixed Income CHAP and Eviction CHAP. These programs provide financial aid to those facing eviction due to fixed incomes or temporary hardships.

5. Court Forms You Must Use (LVJCLRP6.2):
Since February 2023, the Las Vegas Justice Court requires landlords and tenants to use specific forms during eviction proceedings. Not following these forms may lead to case dismissal.

Keeping it simple, these changes aim to protect tenants and ensure fair practices. For more details or assistance, contact Sin City Real Estate and Management LLC  Stay informed to make renting and owning property hassle-free!

Alexis Quintanilla
B.1003001.LLC


Source: Information on legislative changes in 2023 is based on updates from the Nevada legislative session and official documents. For specific details, please refer to the official legislative records and announcements.