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Las
Vegas Real Estate Report > Apartments For Rent
Apartments For Rent
Some experts say that too many apartments have been built in the greater Las Vegas area, as vacancy rates for apartments for rent in Las Vegas have been as high 7.5 % for the last two years. In 2003, an estimated 6,000 new apartment units were built. However, reports indicate that only about half that number of new units is planned for 2004.
With so many Las Vegas apartments for rent standing empty, it is currently a renter's market. As of late 2003, building managers with Las Vegas apartments for rent have been offering move-in specials and one month's free rent, in addition to other amenities, such as free cable TV and no lease requirements. Even so, the market for Las Vegas apartments for rent has been ranked as the sixth best in the country. About 38% of all Las Vegas residents are renters, and 75% of renters live in apartments.
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Rents range from under $500 per month for a one-bedroom to $1,200 for a larger, upscale residence. The average monthly rate for all Las Vegas apartments for rent has been reported at between $700 and $800. The Southwest region contains the greatest number of Las Vegas apartments for rent. The standard lease term for Las Vegas apartments for rent is currently six months, although some are available for even shorter terms. Renters can usually expect to pay for gas and electricity. Pets under 20 pounds are generally accepted, with an increased security deposit.
Residents seeking Las Vegas apartments for rent can take advantage of the free apartment guides available in various supermarkets and convenience stores, as well as the Las Vegas Chamber of Commerce Visitors center.
Several different websites also offer listings, such as www.craigslist.com, www.thesublet.com, lasvegas.forrent.com, www.rent.com, www.lasvegasapartments.com, www.rentnet.com, and www.apartmentguide.com.
Sites such as www.apartmentratings.com offer the advantage of on-line reviews by renters in a building you may be checking out. Other sites, such as www.relocationcentral.com go even further, and offer advice for the whole relocation process, in addition to Las Vegas apartments for rent search options.
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