Las Vegas Property Management | Costello Realty & Management

The Basics of Nevada’s Security Deposit Law

Sun, 25 Feb 2018 04:49:00 GMT

Security deposits can trigger the age-old “he said, she said” debate in landlord-tenant relationships. Different states have different laws regarding security deposits. The Nevada rental laws, in particular, are very clear on this topic. As property managers in the Nevada area, we are very familiar with the security deposit law.

Landlords charge security deposits for various reasons:

As a landlord in Nevada, it’s important to familiarize yourself with Nevada’s Security Deposit laws. Otherwise, you risk losing the right to keep a tenant’s security deposit and incur legal costs in the process.

Here’s a basic summary of Nevada’s Security Deposit law

· What happens to the security deposit when the property ownership is transferred?

As a landlord, you are required to do two things when property ownership is transferred. First, give the security deposit back to the tenant. The Nevada landlord-tenant law also requires you to notify the incoming landlord that the security deposit has been returned back to the tenant.

Second, notify the tenant in writing that their security deposit, minus legal deductions, has been transferred to the new owner. The law also requires you to provide the tenant with the name, address and phone number of the new owner.

In reality, however, that return or transfer often doesn’t take place. Therefore, besides giving the new owner “the rights and obligations” of the former landlord, Nevada rental law also makes the new owner liable for the former landlord’s securities. Simply put, the incoming landlord becomes responsible for the tenant’s security deposits.

· Can a tenant use a surety bond instead?

Yes, they can. Tenants can use a surety bond for all or part of the deposit. No law compels you to accept it, nor can you force a tenant to use it as a security deposit. It is based purely on mutual understanding.

Renters bonds, however, make it easier for you to collect penalties in case of property damage. So, if the tenant causes damage, they will guarantee to cover it (to a certain limit). Typically, surety bonds cost about 10-20% of the total security deposit required.

In case of property damage, you’re required to provide your tenant with a written itemized accounting. The tenant may or may not agree with your accounting. If the tenant disagrees with it, they need to file their dispute with their bond company.

At this point, you may first need to file a lawsuit against the tenant in a Small Claims Court. If the judgment favors you, the tenant’s bond company will then pay you for the property damage.

· Is it a must for the landlord to provide the tenant with a written notice after receiving the security deposit?

This isn’t a must in Nevada. You are only required to provide it if it’s requested by the tenant. Aside from the amount serving as a security deposit, the receipt can also be for a surety bond or a rental payment. The tenant is allowed to withhold further rent payments until you provide them the receipt.

· Are there any specific laws regarding security deposit storing in Nevada?

No, there aren’t. Unlike some states where the law dictates how a tenant’s security deposit will be stored, the Nevada law doesn’t offer any specific requirements.

· Is the landlord required to state the conditions under which the security deposit can be refunded to tenants in Nevada?

Yes. In addition to clearly listing all the deposits in the lease agreement, you are also required to explain the conditions under which you can refund the security deposits.

· Can landlords in Nevada charge a nonrefundable security deposit?

No. Landlords can’t ask for a non-refundable security deposit. You can, however, charge your tenant a nonrefundable fee for cleaning. This amount must be reasonable. The amount must also be written clearly in the rental agreement.

· Does Nevada law limit how much a landlord can charge a tenant for a security deposit?

Yes, it does. According to Nevada’s Security Laws, the amount you can charge a tenant is dependent on the type of property they rent.

For Project-Based Section 8 housing , you can charge a maximum of one month’s rent or $50, whichever is more. For public housing, you can charge a maximum of one month’s rent. And for private housing, you can charge a maximum of three month’s rent. So, for instance, if monthly rent is $900, you cannot demand anything beyond $2,700.

· What are the reasons to withhold the security deposit of a tenant in Nevada?

You can keep all or a part of a tenant’s security deposit for various reasons:

But what constitutes normal wear and tear versus damage as a result of the tenant’s carelessness or negligence? These examples can provide some insight into the differences between “normal wear and tear” and damage.

· When and how should landlords give the security deposit back to a tenant in Nevada?

You have thirty days to give the security deposit, minus legal deductions, back to the tenant. Supposing there are deductions, you are required to provide an accounting of such deductions.

There are two options for refunding the security deposit back to the tenant. You can mail the deposit back to the tenant or hand it personally to the tenant.

If the tenant doesn’t agree with the deductions made, the tenant has the option of filing a dispute with either you or the surety. Likewise, if you fail to return the tenant’s security deposit within thirty days or fail to provide an itemized accounting of the deductions, under Nevada renter’s rights the tenant can also file a lawsuit against you in a small claims court.

In Nevada, the tenant can request to double the security deposit amount. With regard to this, a court will consider:

· Is a Walk-Through Inspection necessary in Nevada?

A walk-through inspection takes place when a tenant is moving out of a rental unit. It ensures that the property’s condition hasn’t changed. In Nevada, a walk-through inspection isn’t necessary.

As a landlord in Nevada, it’s important that you follow Nevada’s Security Deposit Law when handling your tenant’s security deposit. For more information on security deposits, read this post .

Everything You Need to Know About Breaking a Lease in Nevada

Mon, 22 Jan 2018 20:10:00 GMT

If you are a tenant in Nevada contemplating breaking a lease , here’s everything you need to know.

Having a tenant break a Nevada rental lease is something every landlord dreads. Tenants may choose to break a lease for several reasons. For example, moving to another city or moving in with a girlfriend or boyfriend. Whichever the reason, the law is clear on tenant-landlord agreements.

Reasons for breaking a lease may either be legally justified or unjustified. When justified, you may be able to end the lease without fear of penalty.

When Breaking the Lease Is Legally Justified under Nevada Lease Laws

In the state of Nevada, the following are reasons when you can legally break a lease without facing any consequences:

· When you’re starting active military duty

Active duty military members are protected by the Servicemembers Civil Relief Act (SCRA) . The law offers these members protection when they receive a change of station orders.

Specifically, the law covers members of the “uniformed services”. These include the activated National Guard, commissioned corps of the Public Health Service, armed forces, and commissioned corps of the Oceanic and Atmospheric Administration.

Under the act, you’re required to give your landlord a written notice of your intentions to end the lease. This notice must usually be at least 30 days in advance of the desired date of termination.

You may also need to include proof of military deployment or change of station orders in the notice.

· When the landlord makes an illegal entry

Additionally, the landlord can only enter your rental property for legal reasons. Such reasons may include showing the unit to prospective tenants or inspecting the unit.

Under Nevada tenant laws, breaking of a lease is allowed if the landlord makes attempts to access your rental unit for reasons not legally allowed, harasses you, or makes continued attempts to enter your rental unit without proper notice.

· You are a victim of domestic violence

You have the right to break a lease agreement if you’ve been a victim of domestic violence. Under Nevada landlord-tenant law , the act of violence must’ve occurred recently, usually within the last 6 months.

State law (Nev. Rev. Stat. Ann. § § 118A.345, 118A.347, 118A.510) outlines the specific conditions that must be met. For one, you will need to present a valid protection order.

· The rental unit violates Nevada Health or Safety Codes

By law, landlords must maintain fit and habitable premises. Otherwise, a court would probably conclude that you’ve been “constructively evicted.” In Nevada, common landlord obligations include:

Typically, you will need to provide the landlord with a written notice of your intentions to end the lease agreement.

Nevada law (Nev. Rev. Stat. Ann. § § 118A.360, 118A.380, and 118A.490) sets specific requirements for the procedures you must follow before moving out.

· You have physical or mental disability

Tenants (60 years of age and above) may break a rental agreement if they need specialized care or treatment. Nevada state law (Nev. Rev. Stat. Ann. § 118A.340) specifies the conditions to be met.

· Illegal rental unit

In Nevada, you may also break the lease agreement if it turns out that your rental unit isn’t legal. You may even be entitled to a portion of the rent you’ve paid. The landlord may also be compelled to assist you to get a new rental unit.

When Breaking a Lease Isn’t Legally Justified Under Nevada Lease Laws

You may face heavy financial and legal repercussions if your reason to break a lease isn’t legally justified. Often, tenants ignorantly break a lease agreement thinking they have a valid reason to do so when they actually don’t.

The following are common reasons that tenants shouldn’t use to break their lease:

Fortunately, there’s hope to avoid massive penalties even in these situations. This is because, under Nevada rental laws (Nev. Rev. Stat. Ann. § 118.175), the landlord is required to make reasonable efforts to re-rent the unit.

This means you may still be off the hook for paying all the rent due for the remaining lease term. You may only need to pay the lost amount the landlord incurred as a result of you moving out early.

When re-renting the unit, the landlord doesn’t need to relax standards for acceptable tenants. For instance, the landlord doesn’t have to accept a prospective tenant with a poor credit history. The prospective tenant must be qualified, that is, pass the entire tenant screening process.

Because of this, the landlord may incur some additional costs. Such costs include those for advertising and tenant screening. These are legitimate expenses that the landlord may add to your bill.

How to Minimize Your Financial Liability When You Break a Lease

There’s a lot you can do to limit the amount of money you need to pay the landlord if you want to move out early. Here are some tips:

· Find a termination clause

Some termination clauses may allow you to move out for reasons such as:

It’s important to note that early termination clauses differ with the landlord. But while they may differ, the end result is the same. If you comply, you can be released from the balance of your obligations under the rental agreement.

· Find someone to sublet

Ideally, you can offer your landlord a qualified replacement tenant. The prospective tenant must have good credit and excellent references. However, you should review the terms of the subletting clause carefully to see if you’ll still continue having any responsibilities.

· Try negotiating with your landlord

It may still be possible to simply talk your way out of your rental lease even if the odds are slim. If the property is in such high demand that there’s a waitlist, you may be in luck with a bit of finely-tuned negotiating skills and bit of politeness.

· Provide as much notice as possible

You can help the situation by simply writing a letter to your landlord well in advance. This will give your landlord enough time to plan ahead.

Tenants and landlords have mutual responsibilities under the contracted agreements of a lease. If you have to break the lease, make sure you understand your rights and responsibilities first. If you’re not sure of Nevada’s tenant rights and responsibilities under the lease, seek advice from an experienced and landlord-tenant attorney.

An Overview of Nevada Landlord-Tenant Laws

Sun, 24 Dec 2017 04:23:00 GMT

Like all states, Nevada has its own laws governing the landlord-tenant relationship.

Typically, these laws define which types of discrimination are prohibited and the amount of a security deposit a landlord may require.

Below is an overview of the landlord-tenant laws in Nevada.

Nevada Security Deposit Limit and Return

Typically, a landlord collects security deposits from tenants. Under Nevada rental law, the landlord must disclose certain information to tenants. State laws in Nevada for security deposits dictate that:

Required Landlord Disclosures in Nevada

Small claims lawsuit in Nevada

Small claims courts, also known as “Peoples Court,” is a court of limited jurisdiction. In Nevada, renters can sue landlords in small claims courts for the return of their deposit up to $10,000.

A small court offers an informal, swift and inexpensive way to resolve many types of disputes involving particular individuals and companies. For more information, see the provisions on Nevada small claims lawsuit s.

Nevada’s Renters Rights to Withhold Rent

Landlords must keep their rental property in a habitable condition. If they fail to do so, tenants have the right to exercise the right to “repair and deduct” or withhold rent.

Unless the lease specifies otherwise, the landlord must provide certain essential services or items. For example, they should provide a functioning door lock, gas, electricity, hot water, running water, air-conditioning, heat and the like.

Aside from withholding rent, tenants may also:

Nevada Late Fees and Other Rent Rules

In Nevada, there are rules for nonpayment of rent and late fees. The rental agreement should spell out the landlord’s key rules. These include:

Further information on Nevada’s rent-related rules can be found in:

Nevada Termination and Eviction Rules

The Nevada rental laws have explicit provisions for terminating a tenancy. For instance, a landlord cannot file an eviction lawsuit against the renters without legally terminating the tenancy first. This means serving the renter with a written notice, as specified under Nevada’s landlord-tenant statute.

Different types of termination notices and procedures are available depending on the situation. Notices of termination with cause include:

Tenant Protection against Retaliation, Landlord Access to Rental Property, and Other State Laws in Nevada

Other laws that affect the landlord-tenant relationship include:

Federal Nevada Landlord-Tenant Laws and Regulations

Aside from Nevada’s state laws, the U.S.’s federal laws also dictate the legal relationship between landlord and tenant.

Some of these laws include the ones provided by the U.S Environmental Protection Agency and The U.S. Department of Housing and Urban Development.

Local Ordinances Affecting Nevada Landlords and Tenants

Cities and counties often have ordinances on anti-discrimination, nuisance, and health and safety. Most of these local ordinances can be found online. Good online sources include Municode and statelocalgov.net. Additionally, information can be found in the office of the county or city manager, or the local public library.

Landlords and tenants have rights and responsibilities under the contracted Nevada rental agreement. If either party fails to meet their responsibilities under the lease, then the other may take specific steps to enforce their rights.

(Disclaimer: This article is meant to be informational, and should not be construed as a substitute for legal advice provided by a licensed attorn

Las Vegas Date Night Ideas

Fri, 01 Dec 2017 05:07:00 GMT

Vegas or bust! Whatever relationship status you’re in, Las Vegas has got you covered. There are tons of activities for lovers to take part in. Options range from fun and naughty shows to different kinds of attractions and super clubs.

As a Las Vegas property management company we are well informed on the city and all the fun date ideas it has to offer. We’ve put together a list of to-dos for a great date night in Las Vegas. Scroll through our romantic adventures below to help you plan your date.

Tonight, W e’re G oing to H ave a G ood, G ood T ime

Las Vegas Shows

It’s showtime! The country’s best entertainment hotspots are found in Las Vegas. The shows are wonderful options for couples looking to enjoy world-class entertainment, and each other, of course.

There are many shows to choose from and the choices can be overwhelming. It’s a good idea to sign up for the Go Las Vegas card. The card allows you admission to all shows including the following:

These shows are all unique and you’d be lucky to catch all of them. It’s recommended that you book early to get the best seats.

Hotel Crawl

The night is always young and there are so many hotels to see. Las Vegas is literally crawling with some of the country’s best and most eventful hotels. In this city that never sleeps, neither should you. You and your date can check out Las Vegas’ multitude of casinos and cocktail bars.

Top picks for hotels include:

E asy Does It

Costa Del Sur Spa and Salon

You might want to consider checking out this exclusive getaway for couples in Las Vegas. There are plenty of things to do with your lover. Say yes to a relaxing time in the hot tub, steam room, private sauna, or pool.

Indulge in a side-by-side full body exfoliation complete with sugar, oils, and butter. Then try the botanically infused bath for two and effortlessly achieve blissful peace and comfort before heading over to the couple’s massage.

The Spa is the perfect place for couples looking for some sensual and relaxing time together.

The Spa at the Golden Nugget

Undeniably, the Spa at Golden Nugget has the best massage service. Pop over to their newly refurbished Spa for some lavish pampering. This spa is designed with intimacy in mind. It’s a wonderful way to get cozy with your partner. Get intimate without outside distractions.

Spa Aquae

Find yourselves in an oasis in the middle of the city. The Spa Aquae is arguably one of Las Vegas’ most luxurious spas. You can choose from their menu of massages like the Couples Sampler Massage and the Couples Desert Stone Therapy Massage.

Don’t worry about anything else. Spa cuisine, mimosas, and champagne are on standby. Sip on bubblies while you and your date get pampered.

Cocktails at The Foundation Room, Mandalay Bay

Decadence is served. For an utterly romantic and glamorous feel, look no further than the Foundation Room .

The Foundation Room is an exclusive place for couples looking to indulge in each other’s company. It’s the perfect place to talk, dine, drink, and enjoy the Vegas views.

Oh, and that’s not all. The upside is that you don’t have to worry about bachelor or bachelorette parties ruining the ambiance.

Le Reve – The Dream

Set in an aqua theater, Le Reve features a unique combination of stunning imagery, captivating choreography, and aerial acrobatics. Prepare to be enthralled with aerial displays of astonishing agility and strength.

Voted as the “Best Production Show” for the past seven years, acrobatic underwater tangos and high dives take you on an ephemeral journey. Jaw dropping and gravity-defying feats will make for an interesting and extraordinary evening.

Taking i n the Sights

Fremont Street

Stroll along the world’s most sparkly street. So sparkly it would put the most diamond to shame. What’s more romantic than walking while holding hands? The views are simply spectacular.

The lights. The reflections. The sounds. The people around. This intoxicating experience is out of this world.

Remember to bring your camera to capture this free Las Vegas activity of the senses. Yes, it’s free.

Gondola Rides at the Venetian

Find yourselves transported to the canals of Italy. Take your date on a magical gondola ride at the Venetian. Sail through a whole new world along the Venetian streetscapes, under balconies, alongside cafes, and beneath bridges.

A professional photographer is on standby, but be sure to take your own camera. You wouldn’t want to leave anything to chance.

The Bellagio Fountains

Do what lovers do. Rest your feet while gazing at something beautiful. Apart from your partner of course. The iconic Bellagio Fountains is a romantic setting, ideal for a Las Vegas date night.

It is entirely free. All you need to do is find a comfortable spot, sit back, put your arm around your partner and enjoy the amazing performance. Set against the Vegas lavender sky, this spectacular water, light and music show is sure to mesmerize.

The Eiffel Tower Experience

After taking photos of the amazing views, head over to the Paris Hotel for a lovely dinner. The Eiffel Tower restaurant is sure to cap the mood for a romantic evening in Las Vegas.

The Accidental Tourist

Grand Canyon Tours

Mather Point is one that should not be missed.Don’t forget to hop off the bus along the canyon’s edge and take in the amazing view.

There are many tour companies to choose from. Enjoy the park from the air, land or water. They provide an airplane, helicopter, ATV, and boat or rafting tours.

Neon Museum

Dedicated to housing the city’s famed neon signs, The Neon Museum is a different and interesting activity. Travel through time and learn about the city’s historical landmarks. Tour times vary based on the season but are available seven days a week. Tickets sell out quickly and it is advisable to book early.

Best Neighborhoods in Las Vegas to Live

Thu, 26 Oct 2017 14:49:00 GMT

It’s essential we know which neighborhoods are safest to live in. As a Las Vegas Real Estate Business it is important we know what our city has to offer.

When looking for a house to purchase, one of the most important things to consider is whether the house is located in a safe neighborhood. While it can be helpful to get recommendations from other people, you may not get the most accurate statistics regarding the area.

It’s therefore advisable for you to do your own research on the neighborhood you are about to move into. Most importantly, don’t forget to check the past crime statistics of the area. It’s important to consider a neighborhood that you will feel safest in.

It is one of the most beautiful cities in Nevada. There are tones of reasons to live in Las Vegas . It’s a city in the western part of the United States. Las Vegas is famed for its 24/7 hours casinos, extravagant live shows, and museums such as the Mob Museum. It is filled with elaborately themed hotels, luxury resorts, upscale shopping malls, restaurants, and so much more. There is no place like Las Vegas when it comes to entertainment.

Now just like any other big city, Las Vegas has its share of safe neighborhoods and dangerous neighborhoods. Many homebuyers and renters should do their research to make better choices. With the rate of crimes increasing in some of the major cities in the U.S, it’s only natural to make safety the first priority when looking for a place to live.

If you’re planning to move to the fun city, it’s best to find a neighborhood that is less prone to crime. Increasing your safety and that of your family. In this article, we have reviews of the 8 safest places to live in Las Vegas.

Best & Safest Areas to Live in Las Vegas, Nevada:

1. The City of Henderson

That’s not all. The 2014 Uniform Crime Report by the Federal Bureau of Investigation (FBI) backed up this claim. They classifying the city as one of the “Top 10 Safest Cities in America.”

Do you need more evidence to assure you of its safety? Certainly not.

Oh, and we can’t forget that it’s only a mere 15 minutes away from Las Vegas!

2. Summerlin

Summerlin happens to be one of the newest towns, it is divided into Northern Summerlin and Southern Summerlin. It’s a safe place, as well as an affordable place to purchase a house to live in. The neighborhood comprises of gated communities with 24/7 private security patrols. Further boosting its safety and security.

Besides being one of the safest and most secure neighborhoods to live in, it’s peaceful. It has lots of amenities and recreational activities to enjoy. It is bound by the Spring Mountains and beautiful Red Rock Canyon.

3. Southwest

The fact that it’s more residential means its population is smaller. This translates to lower crime rates. It’s generally a perfectly safe neighborhood for millennials, individuals, and families to live in.

Homes are pretty affordable in Southwest and the cost of living is way lower compared to other areas in Nevada. Plus, it too is only 15 minutes from the Las
Vegas Strip.

4. Spring Valley

Located in the south of Summerlin is Spring Valley. Its crime rates are lower compared to other cities in Nevada. Spring Valley is a great place to raise a family for so many reasons, besides safety and security. It offers its resident a safe environment to live in, work in, and raise their kids, in addition to enjoying recreational activities.

The town is close to everything you need, yet still far enough from the busy areas to allow for a calm environment.

5. Downtown East

Downtown East is dominated by single-family homes; along with long-term residents who possess a great sense of community. The neighbors look out for each other, so it’s a safer place to live.

Recent crime statistics indicate that you have a 1 in 17 chances of becoming a victim of any crime.

It shouldn’t be confused with Downtown Las Vegas as these are completely different neighborhoods.

6. Anthem

Anthem is a close-knit community and one of the best areas to live in Henderson, NV. It also happens to be one of the safest, friendliest, and most affordable neighborhoods in Las Vegas.

Located just 15 minutes away from the Las Vegas Strip, you will get to enjoy everything this fun city has to offer. It’s an upscale and affluent neighborhood with an average household income of $100,400.

Anthem’s overall crime rate is 70% lower than the national average and is safer than 95% of the cities in Nevada. While living in this neighborhood, you have a 1 in 20 chance of becoming a victim of any crime. A number that is much lower compared to other areas in Nevada.

7. Rancho Charleston

Rancho is a relatively quiet and safe town which boasts of low crime rates and favorable high-quality education. All making it a great area to raise your family.

The neighborhood’s sense of togetherness further boosts its safety and security as the neighbors look out for each other.

Besides being one of the safest neighborhoods in Las Vegas, Rancho has great weather and has a plentitude of amenities. It is also brimming with affordable housing, an incredible array of eateries and diners, plenty of recreational activities, and high-paying jobs.

8. Sunrise

Sunrise is definitely on the list of desirable neighborhoods to live and work in. It’s a tight-knit community located in the northeast Las Vegas suburbs. It comprises of permanent residents who know each other well and look out for each other.

Sunrise is a great place to buy a home and raise a family. Plus, most homes in this community are affordable and charming. Most homes are in gated communities with 24/7 security patrol. So, if you are looking for a great neighborhood to live in, Sunrise is definitely a great option.

We hope this article will help you in making a better decision.