Breaking News in Nevada for properties regarding both Open Houses AND Tenant Occupied Properties. We wanted to let all our friends know that the governor has officially eased some restrictions. To see the FULL press release, you can read that here: Press Release

Open Houses

It was announced that Open Houses, which have been shuttered for the last 6 months or so, are back and legal again. There are some highlights of how to operate an Open House, and they are as follows:

• Owners (Occupants) must NOT be present during the Open House

• One Agent representing the Seller may / should be present at all times

• One Buyer Party (buyer, spouse, children etc) may be accompanied by One Agent representing them at a time

• Additional interested parties are to wait outside for their turn

• All Guidelines regarding social distancing, masks, cleaning products, etc to remain in tact.

What this means?

This really isn’t an “open house” where you can have multiple parties through a property at a given time, but a good start. It’s really more of an unscheduled showing if you will. However, Open Houses are really good ways to showcase a home. Our Zahler Properties Team has several seasoned Open House experts, and would gladly hold an Open House on a listing.

Tenant Occupied Properties

The second announcement that is going to change the dynamic of home sales is Tenant Occupied Properties. For the last 6 months, any home that had a TENANT in the property was unable to be shown, period. No exceptions. This created a more difficult process for selling a tenant occupied home. We were able to navigate a sale on one of them already, but it does add more layers of difficulty. The highlights for a Tenant Occupied Property are as follows:

• Tenants must allow a showing as long as there is a 24 hour Advanced Notice

• Any sale is still subject to the written lease, and the lease will prevail

• Showings are limited to ONE Buyer (and their family) and ONE Agent representing the Buyer at a time. Seller may have a representative there as well.

• Tenant must NOT be present for showing

• A COVID Release and Acknowledgement Form signed by each prospective Buyer is recommended

• Agents must adhere to CDC Guidelines

What this means?

With proper notice and disclosure, homes that have tenants occupying a property are now allowed to be shown with at least a 24 hour notice. This will open up HUNDREDS of additional properties in the Las Vegas area to allow to be shown. This is good news for Buyers, as well as Sellers. Precautions will be in place to ensure as much safety as possible. The other thing to remind everyone, is that a Lease is still valid, and a Buyer of a Tenant Occupied Property must adhere to the lease. If a property has a signed lease until May 31, 2021, for example, a Buyer of the property MUST take the property with the active lease, regardless of whether they plan to purchase the home as an investment or to live in.

This is all developing news, but further advancement in the Real Estate world here locally. This will free up some more inventory, which is great for Buyers. It will also allow Sellers more access to their homes to try and sell the properties. Tenants are still protected as long as Guidelines are followed. A huge win for Real Estate in Las Vegas.

What are your thoughts?