This form is a tenant oriented office lease clause that states that the amount of the security deposit shall be reduced from 4 months' Base Rent to 3 months' Base Rent provided that certain lease conditions are met by the lessee.
Nevada Tenant Oriented Clause Providing for the Reduction of the Tenant Security Deposit
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Multi-State
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US-OL4A012C
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How to fill out Tenant Oriented Clause Providing For The Reduction Of The Tenant Security Deposit?
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FAQ
No, a landlord cannot evict a tenant for no reason in Nevada. As mentioned above a landlord is allowed to terminate a rental agreement if a tenant intentionally damages the property and/or doesn't comply with the rental agreement.
Effective July 1, 2023, SB381 amended NRS 118A. 290 to prohibit landlords from requiring tenants to pay any fee or other charge (including home warranty deductibles or copayments) to perform repairs, maintenance tasks, or other work which the landlord has a duty to perform to maintain the unit in a habitable condition.
(NRS 118A. 242(4).) If the tenant disputes an item contained in the landlord's accounting, the tenant can send a written response disputing any items to the surety (the bonding company).
NRS 118.175 requires the landlord to re-rent the dwelling unit after you vacate and prohibits the collection of double rent(from you and the new tenant). The landlord can charge actual damages incurred until the dwelling is re-rented.
Breaking a Lease in Nevada Move closer to a new job. Move into a newly bought home. Serve in the military as a serviceman. Leave their housemate. Move in with someone else. Upsize or downsize.
The Federal Fair Housing Act makes it illegal to discriminate in housing-related transactions due to race, color, religion, national origin, sex, family status or disability. Further, Nevada law also prohibits discrimination against ancestry, sexual orientation and gender identity or expression.
The landlord is allowed to adjust the security deposit amount when rent has not been paid or intentional damage has been made to the property. The landlord should refund the balance to the tenant when the property is being vacated.
Under Nevada's security deposit law, if the property is private housing, then landlords are required to charge no more than 3X the price of one month's rent for the security deposit. So, simply enough, if the monthly rent is $1,000, then as a landlord you shouldn't charge more than $3,000 as security deposit.
