Las Vegas has more visitors than almost any city in the country, yet it is one of the harder places to run an investor-owned short-term rental. Resort hotels dominate nightly stays, local governments license and space out STRs tightly, and many master-planned communities ban rentals under 30 days.
In short: LendingStreet finances short-term rentals in the Las Vegas Valley with DSCR loans that can qualify on projected nightly-rental revenue on some programs, but only where the property can legally operate as an STR. Loans start at $150,000 with no stated maximum, purchases go up to 80% LTV and the standard minimum DSCR is 1.0x. Unincorporated Clark County, the City of Las Vegas, Henderson and North Las Vegas each require licenses and limit where STRs can operate, so many investors here plan for mid-term or long-term rents instead.
Most of the valley, including the Strip corridor, Paradise, Spring Valley, Enterprise and Sunrise Manor, is unincorporated Clark County. After a 2021 state law required large counties to regulate rather than ban STRs, Clark County adopted an ordinance that requires a license for each rental, sets minimum distances between STRs and from resort hotels, limits occupancy and awarded its first licenses through a lottery. The number of licensed homes is small relative to the size of the valley, and licenses may not transfer to a new owner.
The City of Las Vegas, Henderson and North Las Vegas each have their own licensing, spacing and zoning rules. On top of that, Nevada law lets HOAs restrict rentals, and many communities prohibit stays under 30 days. Confirm the rules for the exact address, and whether any existing license would survive your purchase, before you count on nightly income.
| Jurisdiction or setting | What to confirm | Practical reality |
|---|---|---|
| Unincorporated Clark County | County STR license, spacing, occupancy | Limited licenses; not every home can qualify |
| City of Las Vegas | City business license and STR rules | Separate permit process and spacing rules |
| Henderson and North Las Vegas | Each city's STR ordinance | Rules differ by city; check zoning |
| Master-planned HOA communities | CC&Rs and rental minimums | Many bar stays under 30 days |
Furnished stays of 30 days or more serve a large and steady market here: traveling nurses at the valley's hospitals, production and stage crews, convention and trade-show staff in town for weeks, Nellis Air Force Base personnel between assignments, and people relocating to Southern Nevada. These stays generally fall outside STR licensing, though HOA rules still apply.
Mid-term properties are usually underwritten on long-term market rent rather than a nightly projection. That is a more conservative number, so plan your leverage around it.
If you do hold a valid license, demand is deep. Conventions such as CES, sports at Allegiant Stadium and T-Mobile Arena, the Formula 1 race in November, concerts at the Sphere and big boxing and UFC nights all bring groups who want a house with a pool rather than several hotel rooms. Weekends are strong year-round; the hottest summer weeks are softer.
This example is illustrative and not a quote. An investor buys a four-bedroom home for $575,000 where the jurisdiction and HOA allow short-term rentals with a license. Projected STR revenue is about $60,000 a year, or $5,000 a month; long-term market rent is $2,900. Taxes are $250 a month, insurance $110 and HOA dues $90.
At 75% LTV the loan is $431,250, estimated principal and interest is about $3,015 and the total payment is about $3,465. On the STR projection, DSCR is about 1.44x. On long-term rent, it is only about 0.84x. If the license is not secure, a safer structure is 60% LTV: a $345,000 loan, a payment of about $2,862 and a DSCR of about 1.01x on long-term rent alone.
| Item | 75% LTV, STR projection | 75% LTV, long-term rent | 60% LTV, long-term rent |
|---|---|---|---|
| Loan amount | $431,250 | $431,250 | $345,000 |
| Estimated principal and interest | $3,015 | $3,015 | $2,412 |
| Taxes, insurance and HOA | $450 | $450 | $450 |
| Total monthly payment | $3,465 | $3,465 | $2,862 |
| Monthly income used | $5,000 | $2,900 | $2,900 |
| DSCR | About 1.44x | About 0.84x | About 1.01x |
Short-term stays in Clark County are subject to transient lodging tax, and operators need a business license from the county or city in addition to any STR license. Booking platforms may collect some taxes for you; confirm what they remit and what you must file.
Nevada caps annual property tax increases, with a lower cap for a primary residence and a higher one for other homes, including rentals. Caps generally stay with the property rather than resetting at sale, but converting a former primary residence to a rental can move it to the higher cap. The Clark County Assessor can confirm the figures.
Many newer Las Vegas communities also carry special improvement district (SID) or local improvement district (LID) assessments on top of HOA dues. Include both in the payment, because the DSCR does.
If your goal is a true nightly rental, some investors look outside the valley. Lake Tahoe's Nevada side, Reno-area communities and smaller towns each have their own permit systems, caps and occupancy taxes, and several are as strict as Clark County. Our Nevada STR page covers the state picture.
If you already hold a valid license and a booking history, that record helps support a refinance. Cash-out goes up to 75% LTV on DSCR programs, and seasoning varies by program. See /str-dscr-refinance.html, and confirm the license remains valid after the refinance.
Our investor loans are business-purpose loans on non-owner-occupied property. Send the address, jurisdiction, license status, price and rent estimates through the form below, or call (877) 298-1001. We will run the numbers on both the STR projection and long-term rent and show options, including our Nevada DSCR programs.
No. Unincorporated Clark County, the City of Las Vegas, Henderson and North Las Vegas each require licenses and limit where STRs can operate, and many HOAs prohibit them.
It may not. Confirm with the county before you buy, and do not assume a seller's license will carry over.
On some programs, yes, but only if the property can legally operate as an STR. Without a secure license, plan to qualify on long-term rent.
A furnished rental of 30 days or more, often for traveling nurses, crews or relocating workers. These usually fall outside STR licensing, and loans are typically underwritten on long-term rent.
Special and local improvement district assessments that fund infrastructure in many Las Vegas communities. They add to your monthly costs and count in the DSCR.
Nevada's tax caps generally stay with the property, but a former primary residence can move to the higher cap once it becomes a rental.
The minimum credit score is 620, and LLC borrowers are standard.
Our investor loans are business-purpose loans on non-owner-occupied property, so the home must be operated as a rental business.
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