Nevada Rental Market Update – The Eviction Moratorium During August 2020

One thing that’s been on the minds of renters in Nevada is the current eviction moratorium. 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 Las Vegas renters, especially after the recent expiration of the CARES Act eviction moratorium. The CARES Act eviction moratorium, which expired on July 24th, was initially put in place to prevent evictions and foreclosures during the onset of the COVID-19 pandemic

Tenants are left wondering what the future holds for them, as the Federal Government has made no moves to extend their eviction moratorium for another 120 days.

Will Governor Sisolak Extend the Nevada Eviction Moratorium?

Could we see evictions in Nevada next month? Right now, the answer to that question is unclear. The Governor of Nevada hasn’t indicated that he wants to extend the state eviction moratorium as of August 6th.

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

If the Governor signs this bill, it would enable landlords and tenants to pursue mediation first, before the owner or property management company pursues eviction.

Without the pandemic eviction protections bill being signed by the Governor, the Nevada Courts system would likely be overwhelmed. The court processed the relatively low number of 45,000 evictions in 2019. The Nevada rental market in 2020 could easily see triple that number of evictions.  

What Comes Next for the Nevada Rental Market?

As we approach September, and subsequently the expiration of the State of Nevada’s eviction moratorium, it’s clear that nobody wants to see nearly 300,000 Nevadans evicted. Landlords in Nevada need the eviction moratorium to end. A lack of revenue due to unpaid rent means many Nevada landlords are facing foreclosure. This means that we could see a foreclosure wave hit Nevada at the same time as evictions.

Want More? Contact GoldenWest Management

For more information about the Nevada rental market, or to speak with us about our property management services, contact us today by calling (866) 545-5303 or click here to connect with us online.