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Nevada Rental Market Update – August 2020

Nevada Rental Market Update – August 2020

One thing that’s been on the minds of renters in Nevada is the eviction moratorium because unless Governor Steve Sisolak extends it again, the Nevada eviction moratorium will expire on September 1st.

There’s no denying that evictions are a major concern for renters, especially after the recent expiration of the CARES Act eviction moratorium which expired on July 24th

With no move from the Federal Government to extend the Federal eviction moratorium for another 120 days tenants are left wondering what the future holds for them. 

Will The Governor Extend Nevada’s Eviction Moratorium?

Could we see evictions in Nevada next month? Right now, the answer to that question is unclear because the Governor of Nevada hasn’t indicated that he wants to extend the state eviction moratorium.

The Nevada Legislature recently passed pandemic eviction protections which could postpone evictions for another 30 days after the Nevada’s eviction moratorium expires in September. 

If the Governor signs this bill, it would enable landlords and tenants to pursue landlord-tenant mediation first, before landlords attempt to evict their tenants. 

Without the pandemic eviction protections bill being signed by the Governor, it’s likely that the Nevada Courts system would be overwhelmed with evictions because the court only processed 45,000 evictions in 2019.

What Comes Next?

As we approach September and the expiration of the State of Nevada’s eviction moratorium, it’s clear that nobody wants to see close to 300,000 Nevadan’s evicted but the reality is that landlords in Nevada need a closure to the eviction moratorium because many landlords have not collected rent in months.

Without revenue coming in from rent, many landlords in Nevada are facing foreclosure and this also means that we could see a foreclosure wave hit Nevada along with evictions at the same time.

Contact Blackbird Realty

For more information about what’s happening with the Nevada rental market, or to speak with us about our property management services, contact us today by clicking here.