Landlords in North Las Vegas learned this week that the latest attempt to get rent control on the November ballot has failed.
Known as the “Neighborhood Stability Ordinance”, this rent control proposal would limit rent increases in North Las Vegas to just 5% annually.
Pushed by the Culinary Union, it’s easy to see why they backed this ordinance since rising rents are affecting the ability of people who work in the local hospitality industry to live comfortably in Las Vegas due to rising rents.
Signatures Not Submitted in Time
Although the Culinary Union said that they collected enough signatures to get their rent control ordinance on the November 2022 ballot, the reality is that their 3,396 signatures were not submitted until after the primary election, making it too late to get on the ballot.
Like most cities across the United States, we’ve likely not seen the last of groups wanting rent control in Las Vegas because the Culinary Union has stated that they intend to file a petition to get their ordinance placed on the 2024 ballot.
A Battle That’s Paused, For Now
There’s no denying that rent control is a contentious issue that’s not going away anytime soon as rents in Las Vegas have risen 30% since 2020.
Rent control remains a hot-button issue because it’s traditionally opposed by landlords while being supported by tenants, but the big question is should it be implemented in Las Vegas?
The answer is only time will tell, and Las Vegas residents will have to wait until the November 2024 election to find out if it’s going to be on that ballot.
Contact GoldenWest Management
At GoldenWest Management, we know the Las Vegas rental market and are on top of the changes to the laws that affect landlords.
Our team saves owners the time, money, and hassle of managing their properties themselves so that they can enjoy passive income without having to be overburdened with the day-to-day work of property management.
To learn more about the services we can offer you, contact us today by calling (866) 545-5303 or click here to connect with us online.
