Property Q&A in Las Vegas>Question Details

Tigga, Other/Just Looking in 10305

How can people afford to pay rent in Vegas?

Asked by Tigga, 10305 Tue Mar 10, 2009

If a lot of people are losing their jobs and can not afford to pay their mortgage, How can they afford to pay rent?

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Answers

3
Hi Tigga,

Rental prices have come down in some areas same as the property values. Whenever there is less demand for a product the market dictates value. If Workers are paid less they afford less and being to negotiate rental values. I have recently had to negotiate several rents down to get the property rented quickly. A vacant rental to a Landlord is like money going out the window. I handle many Investor Clients and professionally locate quality tenants for the investment properties. If you are looking for a good rental hire a professional Property Manager or Realtor, there are many pitfalls in this complicated Foreclosure Market.

Best Regards,

Dulcie Crawford
The Dulcie Crawford Group
Realty One Group
9089 S. Pecos Road. St # 3400
Henderson NV 89074
Realtor/ABR/E-Pro
Direct#(702)285-1990
Office# (702) 588-6842
Fax # ( 702) 447-2800 DIAL AREA CODE
http://WWW.DulcieCrawford.com
0 votes Thank Flag Link Tue Mar 10, 2009
90% are still employed.

Also, rent is cheaper than what many of those who lost their homes were paying on their mortgage.

For people who are buying now at today's prices, their mortgage payments are much closer to what they might pay to rent a similar home.
0 votes Thank Flag Link Tue Mar 10, 2009
Hello,
Many people are renting places with multiple people sharing the rent. It helps everyone in this declining market.
0 votes Thank Flag Link Tue Mar 10, 2009
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