Valley homeowner fined more than $72K for short-term rental viol - FOX5 Vegas - KVVU

Valley homeowner fined more than $72K for short-term rental violation

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The Las Vegas housing market slowed down for the first time in years. The Las Vegas housing market slowed down for the first time in years.
LAS VEGAS (FOX5) -

A Valley homeowner was fined $72,900 by the City of Las Vegas for violating short-term rental rules.

A daily $500 fine was issued for more than 130 days without a license to a homeowner in the 1900 block of Silver Avenue, according to city spokesperson Jace Radke. The fine was announced at a city council meeting Wednesday.

More than 340,000 people passed on Nevada's hotel rooms in 2016 and opted instead to book a place to stay using the home-sharing service Airbnb.

The $47 million in revenue that hosts took in is a loss for the state's hospitality industry that one expert says will only increase if not addressed.

Las Vegas, by far, had the most Airbnb business in the state. The company says more than a quarter of a million people stayed at homes in Sin City. The people that hosted them made $35.5 million in 2016.

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