Council to tighten curbs on condo conversion
The Las Vegas Council is seriously considering a proposal which will make the process of converting apartments into condos a little more difficult and will prevent the conversion of some apartments based on certain criteria set up by the council officials.Las Vegas saw record conversion of apartments into condos. Over 4,105 apartments have been converted to condominiums in the last two years alone. Another 4,000 are slated to be converted to apartments with approval already having been granted.
Recognising the need for renters to have roof above their head and not be driven out of their homes the Council has decided to introduce and ordinance that will conversion of apartments in certain areas impossible. Developers and apartment complex owners are not very happy with this move of the council but they seem to be fighting a losing battle as scarcity of rental units may reach a crisis point soon.
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