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Coronavirus | Economy & Business | Real Estate

Treasurer reveals details of $50 million rent payment assistance program for residential, commercial tenants

July 14th, 2020 - 2:00am
Nevada Treasurer Zach Conine revealed details about the new program he’s helping lead in an interview Monday with The Nevada Independent. The relief fund comes as Nevada eases out of a complete moratorium on evictions enacted in late March after non-essential businesses were ordered to close, and as evictions for non-payment of residential rent are expected to resume by September.

Coronavirus | Real Estate

Lawyers predict influx of eviction cases as state phases out moratorium and renters await unemployment benefits

June 26th, 2020 - 11:19am
Experts estimate about 10 to 13 percent of renters, or more than 100,000 households, are behind on rent. Gov. Steve Sisolak announced Thursday a gradual lift of the eviction moratorium at a time when thousands are facing potential eviction notices and the state's unemployment rate, which peaked at more than 28 percent in April, is estimated to be worse than that seen in the Great Depression.

Coronavirus | Economy & Business | Real Estate

State officials announce phased lifting of Nevada eviction moratorium; residential evictions to fully resume in September

June 25th, 2020 - 4:55pm
The latest directive, announced Thursday, allows evictions to resume earlier for causes such as violations of lease conditions or nuisance issues, and allows eviction proceedings to resume for commercial properties for reasons including non-payment of rent in July. It comes as the current order was set to expire at the end of June.

Coronavirus | Real Estate

On IndyMatters podcast, Attorney General Aaron Ford on Nevada’s eviction moratorium, which will continue through June 30

May 28th, 2020 - 3:58pm
With June approaching and Sisolak announcing a move into a broader “Phase 2” business and societal reopening effective Friday, questions are percolating about whether the moratorium may be extended, and if not, how people in a state with 28.2 percent unemployment can make several months of rent or mortgage payments that suddenly come due.

Coronavirus | Economy & Business | Real Estate

Judge rules weekly motel owes tenant thousands for locking him out in spite of eviction moratorium

April 10th, 2020 - 2:51pm
The ruling, issued Wednesday in Lyon County Justice Court in favor of the tenant and against the Extended Stay Suites in Fernley, appears to be one of the first instances in which a Nevada court has enforced the order Sisolak issued on March 29. In addition to the statutory damages, the judge ordered the motel to pay $299.13 in actual damages to the tenant and immediately allow him back in his room.

Coronavirus | Real Estate | State Government

Executive order addresses fear of eviction, but tenants remain vulnerable to predatory landlords

April 5th, 2020 - 2:00am
The governor's order suspended all evictions and foreclosures statewide and halted late fees for as long as Nevada remains in a "state of emergency." It also stipulated that property owners can work with their lenders and receive flexibility regarding mortgage payments during the crisis, presumably allowing owners to give tenants more leniency in turn.

Coronavirus | Real Estate | State Government

Sisolak announces statewide moratorium on residential, commercial evictions during COVID-19 crisis

March 29th, 2020 - 4:18pm
The announcement, which came in a press conference on Sunday afternoon in Las Vegas, comes after a coalition of legal aid providers and other advocacy groups called on elected officials to issue a statewide moratorium on evictions. Prior to the announcement, a patchwork of orders from some 40 courts in the state led to confusion about who was eligible for what, if any, relief or postponement of an eviction.

Coronavirus | Real Estate | State Government

State’s ‘piecemeal’ approach to evictions during pandemic worries tenants and landlords alike

More than 20 organizations signed on to a letter last week calling on Sisolak to issue a statewide moratorium on evictions to provide peace of mind to renters, who comprise 45 percent of Nevada households, and replace a confusing patchwork of orders from individual local courts offering varied levels of relief to tenants.

Local Government | Real Estate

Reno’s ‘1,000 Homes in 120 Days’ program seeks to boost inventory amid shortage, but at what cost?

March 8th, 2020 - 3:00am
In September, Mayor Hillary Schieve announced a pilot program designed to address the area’s housing shortage called "1,000 homes in 120 Days," offering developers local permit fee deferrals that act as no-interest "loans" to attract more construction. By the end of the 120-day application period on Jan. 30, developers had proposed 4,628 housing units scattered throughout Reno.

Election 2020 | Legislature | Real Estate

REALTORS pump $2 million toward legislative races, candidate recruitment amid backlash to tenants rights bills

January 15th, 2020 - 10:00am
The two political action committees — Realtor Champion PAC and Realtor Industry PAC — were each registered with the state on the same day in December and given $1 million each by the REALTORS association. It’s part of an expanded strategy by the association (already a major contributor to legislative candidates of both parties) to play a larger role in recruiting and supporting candidates in both major political parties aligned with the industry after a 2019 legislative session that association President Chris Bishop called “one of the worst legislative sessions we've been through.”

Legislature | Real Estate

'Elephant in the room': How property taxes became one of the least talked about issues of the 2019 session

May 26th, 2019 - 2:10am
Members of the business community, local governments and others fully expected a constitutional amendment on property taxes to advance this session. Yet, with only about a week left in the session, the proposal and an accompanying piece of legislation have yet to receive so much as a committee hearing and are considered all but dead.

Legislature | Real Estate

Developers, trial lawyers face off over bill revising construction defect law changes made in 2015

April 10th, 2019 - 2:20am
The actual subject of the hearing was AB421, a bill heard by the Assembly Judiciary Committee that would reverse many of the substantive changes Republican lawmakers made in 2015 on lawsuits related to construction defect claims, a move derided by Democrats but lauded by Republicans including Gov. Brian Sandoval and developers as necessary to stem the growing tide of alleged “frivolous” lawsuits on residential construction defects.

Legislature | Real Estate

Affordable housing tax credits not 'silver bullet' but touted as pathway to more low-income development

March 27th, 2019 - 2:05am
Democratic Sen. Julia Ratti, who presented the bill and chaired an interim legislative committee on affordable housing, told lawmakers on the Senate Revenue and Economic Development Committee on Monday that the tax credits would help spur development of another 600 units of low-cost housing every year, and match up with federal requirements for low-income housing credits to ease burdens on developers.



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