Las Vegas High Rise Condos For Sale - FAQ
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What type of condo is for me?
Las Vegas high rise condos consist of residential luxury buildings and hotel-condos. Las Vegas Hotel-Condos are not financeable, permit nightly rentals, and are offered turn key designer furnished. There is an on site management company in each Las Vegas hotel condo that rents your condo out when not in use, should you so desire. Revenues are split per a management agreement. We do have sample rental contracts for the various Las Vegas Condo hotel towers in pdf format that we can e-mail to you upon request.
Examples of hotel condos are Trump Las Vegas, Signature at MGM Grand, Palms Place, Vdara in CityCenter, The Cosmopolitan, and The Platinum. Of these, The Signature at MGM Grand is the only Las Vegas hotel condos that are guard gated. Trump Las Vegas & Vdara do not offer any units with balconies. Typically, the HOA dues at Hotel condos are upwards of $1 per square foot per month. There is an additional monthly charge for placing the condo in the on site rental program. Owners are required to obtain a million dollar liability policy as well prior to placing the units in the on site rental program. Palms Place includes electricity in the monthly HOA dues, while the other towers do not.
To sum it up, if you are looking for a luxury high rise condo that can be rented on a nightly basis where you can come into town and use it when you want, this is the type of property that is perfect for you. If you are looking for a steady & predictable ROI (income return on investment), residential high rise condominiums will suit your better.
Residential high rise condos in Las Vegas have minimum rental restrictions. Most Las Vegas high rise residential condos limit rentals to a minimum of 6 months to a year, while SKY LAS VEGAS permits a 3 month rental minimum. There is a strong demand for Las Vegas high rise rentals. Each building has its own HOA approval process for leases. The Stark Team is proficient in each towers requirements and we offer turn key solutions for our high rise condo owners. Elite Realty offers property management services at competitive rates.
Owners of residential high rise condos will be able to have a steady income stream should they choose to rent their units. HOA dues in residential high rise condominiums are lower than those of hotel condos, therefore the ROI is more significant than in hotel condos. If nightly room rates rise this may change.
Why are the HOA dues high and what do they cover?
Las Vegas high rise condo dues cover insurance on the structure, water, trash pick up, and a variety of services. Valet parking, concierge services, fitness center, pool, spa, and in the cases of THE MARTIN and Panorama Towers, even a car and driver! Some high rise condo HOA Dues include sewer fees, and cable or Centurylink TV. In the case of hotel condos, you have the front desk staff. And in Turnberry Place, Turnberry Towers, Panorama Towers, Allure, Sky, MGM Signature, you have the guard gate staff.
Since each building has a different dues structure, feel free to e-mail us for tower specific info.
Why the global broad based appeal of Las Vegas high rise condos?
Imagine living high above the action of the Las Vegas Strip in a maintenance free environment with a variety of amenities at your fingertips! Las Vegas high rise condos offer a luxurious lifestyle with sparkling swimming pools, fully equipped gyms, valet parking, doorman, concierge, and awe inspiring Las Vegas Strip and mountain views. Las Vegas high rise condo living offers a lock and leave easy care lifestyle in a world class city with the best dining, entertainment, and shopping in the world. Always in strong demand, Las Vegas Strip area real estate is an investor's dream.
The high rise condos in Las Vegas for sale are limited to a number of buildings. Unlike NYC or Miami Beach, the luxury condo buildings near the Las Vegas Strip can be counted on two hands. "THE STRIP" is a mere 4 mile stretch. The condos are selling for below 2015 reproduction cost. No new hotel condos nor residential high rises are on the drawing board in the foreseeable future.
And therein lies the Las Vegas real estate investment opportunity. The photo below was taken from the lower floor condos at THE MARTIN on the South side of the building. The skyline is presently changing as the new MGM-AEG Arena is taking shape.
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LAS VEGAS HIGH RISE CONDOS THAT HAVE BEEN JUST REDUCED
The photo below is the B unit at THE MARTIN on FLOOR 22.
The intrigue of Las Vegas high rise condo living lies in the lock and leave lifestyle, building amenities, proximity to the Strip, and THE VIEWS!!!
Please visit out sister site: www.JuneStark.com for info on Las Vegas and Henderson NV real estate as well as Strip High Rises for sale.
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