Pace of Conversions
Reno Annexation and Land Development Code § 18.06.304
in effect18.06.304 - Pace of Conversions
(a) Rental multi-unit housing shall not be converted into condominiums if the vacancy rate for rental multi-unit housing is lower than five percent as determined pursuant to subsection (b) of this section per category. A conversion which causes the vacancy rate to fall below five percent for that category shall not be permitted. The vacancy rate for each category is to be figured separately.
(b) For the purposes of this chapter, two categories of rental multi-unit housing are created. The categories are to be separated in the following manner:
(1) The division between the two categories will be based on the dollar value of 25 percent of the median income (figured on a monthly basis) of a household in the county as established by HUD.
(2) Rental multi-unit housing projects with average rents equal to or below this dollar value figure shall be in one category and rental multi-unit housing projects with average rents above this dollar value figure shall be in the second category.
(3) To be eligible to convert in either category, the average rent of all the units shall have been in one category for one year prior to date of application to convert. A developer shall attach to their application to convert substantiation of rents collected for the year prior to application in the form of accounting records, such as income tax returns or a statement by a certified public account licensed in the state.
(c) Rental multi-unit housing may be converted into condominiums even if the vacancy rate for the category in which the project falls is less than five percent, if 70 percent of the tenants residing in the rental housing project sign a statement approving of the conversion to condominiums.
(d) No application for a condominium conversion shall be accepted by the city unless the vacancy rate, as determined by this section, permits conversion; or unless the condominium conversion project falls within the exception of subsection (c) of this section. A condominium conversion project application once approved shall not be later disapproved because of a subsequent change in the vacancy rate.
Source: City of Reno, Nevada, Administrative Code, City Charter and Annexation and Land Development Code (Municode Library, library.municode.com)URL: https://library.municode.com/nv/reno/codes/land_development_code?nodeId=CH18.06LADI_ART3RECO_18.06.304PACOFetched: 11/1/2026