Las Vegas Rent Is Unaffordable But This App Can Help Save You Money

Has Las Vegas become a completely unaffordable place to live?

Not so long ago, Las Vegas was one of the more affordable places to live in the United States. And certainly on the West Coast. Not so much anymore.

With new teams moving to Las Vegas, new stadiums being built, and more people moving from even less affordable cities, Las Vegas locals are struggling with increased rent and housing affordability. How can you live somewhat comfortably, and without fear of major financial issues?

PadSplit is an app that offers rooms to rent. It has become a popular option for many moving to, and living in Las Vegas.

Founder and CEO Atticus LeBlanc told KTNV, Channel 13, Las Vegas, 'The whole mission of the company is how do we leverage housing as a vehicle for financial empowerment?" He says that is a key element in solving the affordable housing crisis.

LeBlanc started the company in 2017. PadSplit came into the Las Vegas market in July of 2022, and it is now one of several markets where people can find a room to rent on the app.

Maybe you're just moving to Las Vegas to test the waters. You don't know if you'll like it, or how long you want to stay. Or maybe you just want to save some money to move into your own place. PadSplit could be your temporary option.

A guy who has been in Las Vegas for about a year, says finding a room on PadSplit has saved him about $800 a month.

There are pros and cons. Con: Living with other people. No, it may not be ideal, but some people love it, and want to meet new people, especially when you are young, and moving to a new place. A pro is the money being saved.

LeBlanc says that they do run criminal background checks, and identity verification to prevent identity fraud. There's a facial recognition feature with the app, that literally takes a picture of your face holding your ID. So they can make sure you are who you claim to be.

Rooms are furnished, and utilities are included. There is access to telemedicine, and they report on-time payment to credit bureaus. All very legit, and on the up and up.

As of right now, tover 500 rooms on the market for rent. From $175 per week to about $350 per week. Much cheaper than $1500, and more, for an rental in Las Vegas.

It's a good way for college students, service industry workers, and even seniors on a fixed income, to afford Las Vegas Rent. And it's a way to save money for something else in the future.

Like with anything, I'm sure experiences can vary, so do your research.

Just because you don't have the best credit, that doesn't mean you have to give up on improving it. There are actually some pretty easy and quick ways to bring up your credit score. Even if you already have good credit, there's always room for improvement. I recently learned that paying off a big debut, such as a car or house, can actually bring down your credit score. That surprised me, but the reasoning makes sense.

It may seem counter-intuitive, but it's true. Paying off a big debt can actually ding your credit score and make it lower. "Paying off debt might lower your credit scores if removing the debt affects certain factors such as your credit mix, the length of your credit history or your credit utilization ratio," Equifax.com states. "Paying off your only line of installment credit reduces your credit mix and may ultimately decrease your credit scores." Also, closing or paying off a credit card could also make sure scores drop. That's "because your total available credit is lowered when you close a line of credit, which could result in a higher credit utilization ratio," they state. That said, it's not all doom and gloom. Investopedia.com adds that often times, paying off debut helps your credit score. That's especially true if you're someone who has too much debut. That's also true if you already have a low credit score.

So, let's say you're in a situation where you really want to improve your credit score. Thankfully, there are some simple ways to do so. There are some more complex ways, too. We'll get into those, as well. But, even a few small changes can make a big difference. Here are some quick ways to try to improve that coveted credit rating.

If your credit limit increases and your balance remains the same, that will lower your credit utilization. It can improve your credit. This is one of the quickest ways to improve your credit score. Moreover, if your income increases or you have more years of positive credit experience, your credit can go up, too. So, try to not max out your credit. You could even open a new credit card and not touch it, just to help lower that credit utilization even more.

Missing payments can obviously really lower your credit rating. It's a mistake you don't want to make. So, sign up for an autopay option. This might not the be quickest way to improve your credit, but over time, it can really help, especially if you find yourself missing payments once in a while.

Before your really improve your credit, you have to see where you are the weakest. So, check your credit history, and study it. Find a copy of your credit report from each of the three major national credit bureaus: Equifax, Experian, and TransUnion. Then, look the reports over to see what's bringing down your score or helping it. Improve on those negative areas.

When you open a line of credit or apply for a variety of other things, such as a loan or apartment rental, you have have to get a hard inquiry done on your account. But, each hard inquiry can bring down your credit scores a little bit. Over time, that can build up. So, try not to open too many accounts at once. These hard inquires are a minor factor, but they still count.

We usually pay off debts, such as a house payment or credit card payment, once a month. Instead, try splitting that payment into every two weeks. That could help you save on interest. But, it could also help lower your account balances and credit utilization ratio. That, in turn, could raise your scores.

This is among the biggest ways to improve your credit score. If you have a relative or even friend with a credit card account and high limit, plus a good history of paying on time, ask them if they would consider adding you as an authorized user. If they're uncomfortable and you using their card, they actually don't even have to let you use the card of give you their account number. Just the act of adding you to the account will improve your credit. It could improve it a lot.

I have personally found credit records to be pretty accurate. But, today, there are so many fraud cases out there, that you really have to be vigilant. If you have a mistake on one of your credit reports, it could really hurt your credit. So, dispute that error. If you win, that can quickly improve your credit.

While these tips could help raise your credit score, and hopefully quickly, getting stellar credit doesn't happen overnight. There's no magic bullet to wake up with an 850 credit score. So, try these tips and do your best to keep your credit perfect, or at least near perfect. Over time, it will all add up. You'll hopefully see a meaningful, and long-lasting change.