[Atlas1337]

I own a unit in Sky and would recommend it to potential renters and owners. The HOA fees are ~$600/month for my 988 sqft unit. The amenities include 24 hr security, valet & self parking, a gym, pool, and sauna room.

Sky is on the strip and very close to UNLV -- there's actually a UNLV student that lives on my floor. Additionally, there's a large 24/7 CVS on the base floor which is very convenient.

One question I'd ask you is what size unit are you looking for? The smallest unit in Sky is a 777 sqft 1 bedroom. You could find one of those for $1000/month.

[olecapt]

Originally Posted by Atlas1337

I own a unit in Sky and would recommend it to potential renters and owners. The HOA fees are ~$600/month for my 988 sqft unit. The amenities include 24 hr security, valet & self parking, a gym, pool, and sauna room.

Sky is on the strip and very close to UNLV -- there's actually a UNLV student that lives on my floor. Additionally, there's a large 24/7 CVS on the base floor which is very convenient.

One question I'd ask you is what size unit are you looking for? The smallest unit in Sky is a 777 sqft 1 bedroom. You could find one of those for $1000/month.

Sky and Panorama start around 1200/1300 for the tiny units. Allure gets down to 1100 but very few units at that price. The small units in Meridian get under $1000 though they go very fast...and one can argue that Meridian is not a high rise.

[007 license to sell]

Highrise properties hoa's charge by the sq/ft. Allure's hoa is .$54 a sq/ft so if you are in a unit that is 1000 sq/ft it's only $540.00 a month a studio is much smaller they run around $340.00 a month for HOA.

Sky runs around $1.62 sq/ft and about the same for Panorama 1 and 2. Panorama North now called the Martin runs $.42 sq/ft so if you do the math you when your looking at units you will have an idea of what you will be paying. Some properties are even more depending on the amenities and if there was allot of foreclosures and short sales.

[vegaslocal55]

I lived at Sky for 3 years & recommend it, too. The Meridian is also a great choice for UNLV students who want something a little better than most college residences.

[d dot h]

damngina and vegasmaybe, There are already a few good replies in this thread. I don't know that I can be of much help but, as a 30+ year resident -- and (almost) always as an apartment dweller -- I'll ramble a bit and give you my impressions....

There are a few rather old high-rise apartment buildings in Las Vegas (built in maybe the 1960's?). One that comes to mind is Country Club Towers (850 E. Desert Inn Road). But, by and large, Vegas was always a sprawling city -- not known for high-rises. Apartments are abundant and usually always two stories.

To some degree that changed during the building boom of last decade. Property increased in value and builders/developers thought putting up taller buildings was a good idea (more units per square foot of land I presume). While still somewhat rare, these high-rises do exist.

Many if not most of these high-rises, especially near the Strip, were built as condos not apartments. Building was fast and furious c. mid 2000's. Then the crash came. Building came to a screeching halt and housing prices dropped drastically. (Many houses/condos are now worth some 45-50% of their 2005 values.) Unfortunately, while prices to buy are very low, rental rates are not.

UNLV is, generally, in an older part of town. (Again, generally, the nearer the Strip the older.) I hazard a guess that you will not find anything acceptable anywhere near the Campus. BTW, vegasmaybe, Summerlin and Green Valley/Henderson are some of the more expensive parts of the Las Vegas valley.

So, while there are a few high-rise apartment buildings (mentioned already in this thread) most high-rises were built as condos. And those condos, which sold for say $300,000 five years ago, are now worth $100 - 150K. What does that mean? It means beware if renting/leasing a unit from an owner. Chances are that owner -- especially if he is the original owner -- is very upside down. He may not even be paying his mortgage and you won't even know it until one day, as happened to me a few months ago, a foreclosure notice is taped to your door! Beware if renting a condo unit from an owner!

I'm back in an apartment now. I'd prefer to be in a condo ... but I do have the peace of mind that I'm not going to come home some day to a foreclosure notice.

One last thought about renting. I don't know how rentals in other cities go. Decades ago what the "rent" was is what you paid. Nowadays, many (most?) rentals have other fees/charges. Non-refundable pet deposits PLUS a monthly pet fee is one I despise. In my current rental I am assessed a monthly "utility charge" which is an additional charge in addition to rent. This fee includes water, sewer and trash.... Just a few "little" things to be aware of.

Hope my 2 cents worth was worth ... something!

[Swigchow]

Originally Posted by 007 license to sell

Highrise properties hoa's charge by the sq/ft. Allure's hoa is .$54 a sq/ft so if you are in a unit that is 1000 sq/ft it's only $540.00 a month a studio is much smaller they run around $340.00 a month for HOA.

Sky runs around $1.62 sq/ft and about the same for Panorama 1 and 2. Panorama North now called the Martin runs $.42 sq/ft so if you do the math you when your looking at units you will have an idea of what you will be paying. Some properties are even more depending on the amenities and if there was allot of foreclosures and short sales.

I believe that Panorama's HOA is actually closer to $.62 sqft. However, as a rentor you should not be responsible for the HOA, but I would imagine that it is incorporated in the rent.

[damngina]

vegasmaybe, I'm used to urban living, which is why the high rise thing appeals to me! I've looked into Summerlin and Henderson and maybe I'll move there in my second year of living in Vegas (I plan on being in town for at least three years while I finish my BA and get my masters) but for the first year, high rise living doesn't seem too bad!

atlas1337, and vegaslocal, Sky seems great! I'll definitely look into that, as well as Meridian. I'm older than most undergrads, so I am looking for something more mature and upscale, not a frat environment.

d dot h, thanks for the perspective! i'm very wary of renting from owners due to the foreclosures...will watch out for that one. and yes, i am used to the nickel & diming of everything. rented in san francisco for seven years, not an easy market

[Ryuji]

Originally Posted by d dot h

He may not even be paying his mortgage and you won't even know it until one day, as happened to me a few months ago, a foreclosure notice is taped to your door! Beware if renting a condo unit from an owner!

Wow, no laws protect you?

In Japan, you don't have to move out within six months in that case

[007 license to sell]

Originally Posted by Swigchow

I believe that Panorama's HOA is actually closer to $.62 sqft. However, as a rentor you should not be responsible for the HOA, but I would imagine that it is incorporated in the rent.

Panorama 1 and 2 are a $1.62 a sq/ft Panorama north/the Martin is $.42 sq/ft . Your right even if a renter doesn't pay that directly it's figuired in the rent and that can dictate how much rent will be charged for that unit.

[Swigchow]

Originally Posted by 007 license to sell

Panorama 1 and 2 are a $1.62 a sq/ft

No, please recheck your facts.