4 Tips for Protecting Your Rental Property Investment in Las Vegas

The Las Vegas rental market has been the subject of conflicting reports lately—some headlines suggest a rebound, while others caution that rents may remain flat or even decline due to the amount of rental inventory. However, at McKenna Property Management , we’ve been tracking a clear upward trend since January, and the numbers tell a promising story. Our renewal rents have seen on average a steady 3% increase , and we’re optimistic that this number could inch closer to 5% as the year progresses. Additionally, we’re seeing more properties successfully re-enter the market with an average day on market being less than 24, further supporting the idea that demand remains strong. Las Vegas continues to attract people to move here. Of course, outliers exist, but I personally haven’t had to make too many of those dreaded calls to owner/clients recommending a rent reduction. In most cases, rental rates are holding firm or improving—a positive sign as we move further into 2025. While market conditions can always shift, the overall outlook remains favorable , and we’re keeping a close eye on trends to ensure our owners stay ahead of the curve. Stay tuned for more updates as we continue navigating this dynamic market! Jenni McKenna | B.29819 — McKenna Property Management

In January, Southern California faced devastating wildfires, which left an estimated 16,000 homes damaged or destroyed, particularly in areas like Altadena, Pacific Palisades, and Malibu. As these communities work to recover, many residents have been forced to relocate, significantly impacting housing markets across the region. One notable trend that has emerged is the rise in rental prices in Los Angeles County. As of the end of January, rent prices had surged by 37% compared to the previous year. With the loss of so many homes and increased demand for available rentals, many Californians are now seeking alternative housing options. As these individuals look to rebuild their lives, many are turning to nearby Southern Nevada, and Las Vegas, in particular, is emerging as a viable option. According to the UNLV Lied Center for Real Estate, nearly 40% of new Nevada residents are from California. This shift is partly due to the affordable housing market, lower property taxes, and Nevada's lack of a state income tax—all of which make the region an attractive destination for those seeking a fresh start. Southern Nevada also offers a thriving economy with strong job growth and ample opportunities in various industries. The local construction market remains robust, with ongoing development projects contributing to the area’s growing housing supply. While the fires in California and the resulting displacement of residents have led to many challenges, they may also present opportunities for Las Vegas and the surrounding areas. The continued influx of people from California could further bolster the region’s economy, but it also underscores the importance of planning and sustainable growth to accommodate the increasing demand for housing. At McKenna Property Management, we remain committed to understanding these broader market trends and helping both homeowners and renters navigate the evolving housing landscape. Whether you’re looking to relocate or invest in Southern Nevada, our team is here to offer insights and support in this shifting market.  Call us today to inquire about our property management services or available rentals, 702- 434-4663. Jenni McKenna B.29819