Rental Increase
My mother is renting a property and I can not find information anywhere on the rental increase laws, the property is in Clark Count, Nevada (Las Vegas) and was wondering if anyone knew the limit of increasing the rent once the lease is up or a website that gives this info. I have checked the Nevada Revised Statutes and could not find anything there regarding rent increase.
Our concern is that there may be a limit on how high you can raise the rentt. Some utilities have increased and we know that we can charge fmore for rent than we are. I could not find anywhere any info on the laws regarding rental increase. Not worried so much, just wanting to go by the laws..
Auh...I thought your mother was the tenant...I see. Yeah, you should be able to find out by calling the local housing authority, whom ever does the inspections for the city/state. They should know or know who to contact.
NO rent control in Vegas as of July 23, 2005. There are an oversupply of house and condo rentals, so raising the rent has been tough, but the latest report from the Apartment association shows rent up 5.3% june 2004 to june 2005.]
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25 years of real estate success
David Cooper[ Edited by LasVegasNewHome on Date 07/23/2005 ]
Income levels do not come into play in calculating credit scores. Usually a range is used based on job title. 75% is the number that is used in the mortgage industry in calculating cash flow from rental properties.
That would seem even worse. As I continue to acquire properties my debt will shoot up significantly and my "income" cash flow from rental units would not be used to add to my income my credit scores would drop rapidly. I understand that 75% of it could be used to show income for obtaining financing on future properties but I would like to not destroy my credit in the process.
Quote:
On 2005-07-22 19:59, Bunny2 wrote:
Income levels do not come into play in calculating credit scores. Usually a range is used based on job title. 75% is the number that is used in the mortgage industry in calculating cash flow from rental properties.
Thanks everyone for all the replies. They were a great help.[ Edited by tuco on Date 07/23/2005 ]
What will it cost to convert the basement into a third 3-bedroom unit? What about depreciation?