Most owners are underpriced, and they do not know it
Here is the pattern I see constantly. An owner sets rent in year one. The tenant is good, so they renew at the same rent. They renew again. Four years later, the rent has not moved and the market has moved a lot.
The owner is not being generous on purpose. They simply never checked, because nothing forced them to. A vacancy forces you to check. A renewal does not.
Thirty-second checkRun your address against current market rent with our rent comparison tool. It returns the market estimate and the monthly and annual gap. There is no cost and no obligation.
But do the vacancy math before you raise it
Discovering you are $200 below market does not automatically mean you should raise rent $200. Run it properly.
Say you are $150 a month under market. Raising to market earns you $1,800 over a year.
Now price the downside if the tenant leaves:
| Turnover cost | Typical range |
|---|---|
| One month vacant | A full month's rent, gone |
| Make-ready: paint, carpet, cleaning | Often more than a month's rent |
| Marketing and showings | Time, or a leasing fee |
| Screening the new applicant | Modest, but real |
| Risk of a worse tenant | Unpriceable, and the one that actually hurts |
One month of vacancy plus a make-ready very frequently exceeds the entire annual gain from that increase. Which is why my usual advice is to move toward market in steps with a good tenant, rather than snapping to it in one jump.
A reliable tenant who pays on time and reports problems early is worth real money. That is not sentimentality, it is the math.
Nevada rules worth knowing
This is general information, not legal advice, and landlord-tenant law changes. Verify current requirements before acting.
Security deposits
Nevada caps a security deposit at three months' rent. After the tenancy ends, you must provide an itemized written accounting of deductions and return the balance within 30 days. Missing that deadline or skipping the itemization is one of the most common and most avoidable ways owners lose in court.
Normal wear and tear is not damage
You cannot deduct for the ordinary aging of paint, carpet, and finishes. Worn carpet after four years of reasonable use is your cost of doing business. A burn or a pet stain is not. Document condition at move-in with dated photos, thoroughly, every time. It is the cheapest insurance in this business.
Notices are technical
Nevada notice requirements differ by situation, and the summary eviction process is procedural and unforgiving. Serve the wrong notice, or serve the right notice incorrectly, and you start over having lost weeks. If you are self-managing and heading toward an eviction, that is the moment to get professional help, not after.
Fair housing is not optional
Federal and Nevada fair housing law prohibits discrimination on protected characteristics. This extends beyond who you approve, into how you advertise and how you describe a property. "Perfect for a young professional" is a fair housing problem, not a marketing flourish. Set written screening criteria, apply them identically to every applicant, and keep the records.
Screening is where the money is made
Every serious problem I have seen in this business traces back to a screening shortcut taken by an owner who was tired of the property sitting empty.
A defensible process:
- Written criteria, published up front. Income multiple, credit threshold, rental history requirements, pet policy. Same standard for everyone, no exceptions.
- Verify income independently. Pay stubs and employer verification, not a screenshot.
- Call the prior landlord, not just the current one. The current landlord may want the tenant gone. The prior one has no reason to shade it.
- Run credit and background properly, with FCRA-compliant consent and adverse action notice if you decline based on a report.
- Never skip a step because the unit is vacant. Vacancy costs one month. A bad tenancy can cost a year.
What the numbers look like right now
Live rental and sale data for the northwest valley:
Loading current market data for zip 89130.
The costs owners forget to budget
- HVAC. In this climate, air conditioning is not a comfort item, it is habitability. Units work harder here and die sooner. Budget for replacement before it happens in August, because in August you are paying emergency rates alongside everyone else.
- Roof. Sun exposure ages roofing faster here than in most of the country.
- Water heaters. Hard water shortens their life.
- Landscaping and HOA compliance. If the tenant lets the yard go, the HOA fines you. Decide in the lease who is responsible and inspect.
- Vacancy itself. The most commonly ignored line item in every proforma I am handed.
Self-manage or hire out
Self-managing is entirely reasonable if you live locally, have a small number of doors, have a plumber and an HVAC tech who answer, and are comfortable serving legal notices correctly.
It stops being reasonable when you live out of state, when door count outgrows your evenings, or the first time you face an eviction and realize the process is procedural in ways that punish improvisation.
One thing to know either way: in Nevada, managing property for someone else for compensation is a licensed activity. Anyone managing your property should hold the proper license and maintain a trust account for your funds. Ask. A legitimate manager will tell you immediately.
The short version
Check your rent against the market at least annually. Move toward market in steps rather than jumps if the tenant is good. Screen the same way every time, in writing. Document condition with dated photos. Budget for HVAC before it fails. And get the deposit accounting out within 30 days, itemized, every time.
That is most of it. The rest is answering the phone.