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Nationwide commercial property foreclosures are up significantly since 2023. According to a recent report released by ATTOM in February of this year, the end of 2024 saw a significant year-over-year increase with 725 commercial properties going into foreclosure. California led the charge with 257, which amounted to a 90% increase from the previous month and a 104% jump compared to December of 2023. With foreclosure comes the risk of a property becoming vacant or abandoned. This can eventually cause problems for cities, who run the risk of those vacant commercial properties becoming taken over by squatters or converting into hotbeds for crime.

Clark County officials have presented a transformative bill to Nevada state lawmakers aimed at combating the alarming negligence of landlords who fail to address dangerous living conditions, endangering tenant health and safety. The newly proposed Assembly Bill 211 amends existing language and revises provisions related to substandard properties, advocating for the appointment of a health and safety receiver in certain situations.