Nevada Revised Statutes 118A.242 – Security deposit: Limitation on amount or value; surety bond in lieu of security deposit; duties and liability of landlord; damages; disputing itemized accounting of security deposit; prohibited provisions
1. The landlord may not demand or receive a security deposit or a surety bond, or a combination thereof, including the last month’s rent, whose total amount or value exceeds 3 months’ periodic rent.
Terms Used In Nevada Revised Statutes 118A.242
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
2. In lieu of paying all or part of the security deposit required by the landlord, a tenant may, if the landlord consents, purchase a surety bond to secure the tenant’s obligation to the landlord under the rental agreement to:
(a) Remedy any default of the tenant in the payment of rent.
(b) Repair damages to the premises other than normal wear and tear.
(c) Clean the dwelling unit.
3. The landlord:
(a) Is not required to accept a surety bond purchased by the tenant in lieu of paying all or part of the security deposit; and
(b) May not require a tenant to purchase a surety bond in lieu of paying all or part of the security deposit.
4. Upon termination of the tenancy by either party for any reason, the landlord may claim of the security deposit or surety bond, or a combination thereof, only such amounts as are reasonably necessary to remedy any default of the tenant in the payment of rent, to repair damages to the premises caused by the tenant other than normal wear and to pay the reasonable costs of cleaning the premises. The landlord shall provide the tenant with an itemized, written accounting of the disposition of the security deposit or surety bond, or a combination thereof, and return any remaining portion of the security deposit to the tenant no later than 30 days after the termination of the tenancy by handing it to the tenant personally at the place where the rent is paid, or by mailing it to the tenant at the tenant’s present address or, if that address is unknown, at the tenant’s last known address.
5. If a tenant disputes an item contained in an itemized written accounting received from a landlord pursuant to subsection 4, the tenant may send a written response disputing the item to the surety. If the tenant sends the written response within 30 days after receiving the itemized written accounting, the surety shall not report the claim of the landlord to a credit reporting agency unless the surety obtains a judgment against the tenant.
6. If the landlord fails or refuses to return the remainder of a security deposit within 30 days after the end of a tenancy, the landlord is liable to the tenant for damages:
(a) In an amount equal to the entire security deposit; and
(b) For a sum to be fixed by the court of not more than the amount of the entire security deposit.
7. In determining the sum, if any, to be awarded under paragraph (b) of subsection 6, the court shall consider:
(a) Whether the landlord acted in good faith;
(b) The course of conduct between the landlord and the tenant; and
(c) The degree of harm to the tenant caused by the landlord’s conduct.
8. Except for an agreement which provides for a nonrefundable charge for cleaning, in a reasonable amount, no rental agreement may contain any provision characterizing any security deposit under this section as nonrefundable or any provision waiving or modifying a tenant’s rights under this section. Any such provision is void as contrary to public policy.
9. The claim of a tenant to a security deposit to which the tenant is entitled under this chapter takes precedence over the claim of any creditor of the landlord.