THE LAW OF SECURITY DEPOSITS IN NEVADAFor both landlords and tenants, it is vitally important to understand the laws of security deposits as they relate to rental agreements. Like many other states, Nevada has instituted precise measures regulating the amount of money a landlord may require for a security deposit, and detailing the exact circumstances allowing a landlord to retain all, or a portion of, a tenant's deposit.
Security Deposit Limits
The maximum amount a landlord may charge for a security deposit depends on the type of rental property at issue. The general rule is that a landlord may require a tenant to provide a security deposit equal to the value of three-months rent. Thus, if a tenant's rent is $500 a month, a landlord may require a $1,500 security deposit.
However, with regard to Section 8 Project-Based Housing, a landlord may charge a maximum of one month's rent, or $50, whichever is more. In addition, in limited circumstances involving public housing not funded through Section 8, a landlord may charge a maximum of one month's rent.
Landlord's Right to Keep a Security Deposit
If a tenant is up-to-date on his or her rent payments and returns the rental unit to the landlord in the same condition as it was on the tenant's move-in date, then the landlord must return the tenant's security deposit within 30 days of the lease termination date. However, a landlord may keep all, or a portion of, a tenant's security deposit for the following reasons:
- To pay for damages to the rental unit caused by the tenant which go beyond normal wear and tear;
- To cover the costs of unpaid rent;
- To pay for cleaning costs associated with the rental unit.
If a landlord keeps a portion of the tenant's security deposit, the landlord must submit to the tenant an itemized list of all deductions within 30 days of the lease termination.
Miscellaneous Security Deposit Provisions
In Nevada, a landlord may not charge a nonrefundable security deposit. However, a landlord may charge a nonrefundable cleaning fee, but only if such fee is conspicuously laid out in the rental agreement. Moreover, there is no specific requirement that a landlord provide the tenant with a written receipt of the tenant's security deposit. However, a tenant may request a written receipt for a security deposit, and may withhold rental payments until the landlord furnishes such a receipt.