| Quick Facts | Answer |
| Maximum / Limit | 3 Months’ Rent |
| Receipt Requirement | Yes (upon request) |
| Inventory Requirement | Yes |
| Interest Requirement | None |
To learn about laws on security deposit returns in Nevada, click here.
Some cities and counties may have regulations which are more restrictive than those presented here. Always check local laws.
Maximum Security Deposit Allowed in Nevada
Nevada law limits the maximum security deposit to three months’ rent.
Landlords in Nevada can allow tenants to purchase a surety bond instead of (or in addition to) a security deposit as long as the surety bond and security deposit together do not exceed three months’ rent. However, landlords cannot require a surety bond. Tenants must have the option to provide a security deposit instead.
Laws that apply to security deposits also apply to surety bonds purchased in lieu of a security deposit.
Can Landlords Charge an Additional Pet Deposit in Nevada?
In Nevada, landlords can charge a pet deposit, except for service dogs and emotional support animals. However, the total security deposit cannot exceed three months’ rent. Landlords cannot exceed the limit by asking for extra money under another name like “pet deposit” or “damage deposit.”
This law does not prevent landlords from charging a monthly pet premium (“pet rent”) for the right to keep an animal on the property.
How Much Rent Can a Landlord Collect Upfront in Nevada?
Landlords in Nevada can collect the first month’s rent in advance. However, landlords can only collect three additional months’ rent in advance, whether called a “security deposit” or “prepaid rent.” “Last month’s rent” is considered part of the security deposit.
Security Deposit Collections in Nevada
When collecting a security deposit in Nevada, landlords must include the amount of the security deposit collected and the conditions for its return in the lease agreement.
Landlords in Nevada must also provide a signed inventory and condition of the rental unit. However, this requirement exists whether or not the landlord collects a security deposit.
Do Landlords Have To Provide a Receipt for the Security Deposit in Nevada?
Landlords in Nevada must provide a signed receipt for the security deposit upon request by the tenant. The tenant is allowed to refuse to pay rent until the landlord provides a legally compliant receipt.
What Obligations Do Landlords Have to Establish the Condition at Move-in in Nevada?
When collecting a security deposit, landlords in Nevada must provide the tenant with a written lease agreement including a signed inventory and condition of the rental unit and the conditions for the return of the deposit.
If the landlord wants to be able to charge a non-refundable cleaning fee, it must be included in the lease agreement. Other than a cleaning fee, no portion of the security deposit can be non-refundable.
Security Deposit Holdings in Nevada
Nevada law does not require landlords to hold security deposits separate from other funds. Some other states mandate how and where security deposits are held, but Nevada does not.
Are Tenants Entitled to Interest on Their Security Deposit in Nevada?
Nevada law does not require landlords to provide interest on held security deposits.
How Are Security Deposits Accounted for in Nevada?
Security deposits are not considered taxable income when they are collected.
What Happens to a Security Deposit When the Property is Sold in Nevada?
When a property is sold in Nevada, the landlord must (before the deed is recorded) either:
- Transfer the security deposit to the new owner and notify the tenant in writing of their successor’s name, address, and phone number; or
- Return the security deposit to the tenant and notify the new owner in writing
In either case, the original landlord can make any allowed deductions first.
Sources
- 1 Nev. Rev. Stat. § 118A.242(1) - (3)
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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.
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.
Source Link - 2 Nev. Rev. Stat. § 118A.200(3)(e), (3)(f), & (3)(k)
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Any written rental agreement must contain, but is not limited to, provisions relating to the following subjects:
…
(e) Fees which are required and the purposes for which they are required.
(f) Deposits which are required and the conditions for their refund.
…
(k) A signed record of the inventory and condition of the premises under the exclusive custody and control of the tenant.
Source Link - 3 Nev. Rev. Stat. § 118A.250
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The landlord shall deliver to the tenant upon the tenant’s request a signed written receipt for the security deposit or surety bond, or a combination thereof, and any other payments, deposits or fees, including rent, paid by the tenant and received by the landlord. The tenant may refuse to make rent payments until the landlord tenders the requested receipt.
Source Link
- 4 Nev. Rev. Stat. § 118A.242(8) & (9)
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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.
Source Link - 5 Nev. Rev. Stat. § 118A.244
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1. Upon termination of the landlord’s interest in the dwelling unit, whether by sale, assignment, death, appointment of receiver or otherwise, the landlord or his or her agent shall, within a reasonable time, do one of the following, which relieves the landlord of further liability with respect to the security deposit or surety bond, or a combination thereof:
(a) Notify the tenant in writing of the name, address and telephone number of the landlord’s successor in interest, and that the landlord has transferred to his or her successor in interest the portion of the security deposit or surety bond, or combination thereof, remaining after making any deductions allowed under NRS 118A.242.
(b) Return to the tenant the portion of the security deposit remaining after making any deductions allowed under NRS 118A.242.
The successor has the rights, obligations and liabilities of the former landlord as to any portion of the security deposit owed under this section or NRS 118A.242 at the time of transfer.
2. The landlord shall, before he or she records a deed transferring any dwelling unit:
(a) Transfer to his or her successor, in writing, the portion of any tenant’s security deposit or other money held by the landlord which remains after making any deductions allowed under NRS 118A.242; or
(b) Notify his or her successor in writing that the landlord has returned all such security deposits or portions thereof to the tenant.
3. Upon the termination of a landlord’s interest in the dwelling unit, whether by sale, assignment, death, appointment of receiver or otherwise, the successor in interest:
(a) Shall accept the tenant’s security deposit or surety bond, or a combination thereof; and
(b) Shall not require any additional security deposit or surety bond, or a combination thereof, from the tenant during the term of the rental agreement.
Source Link
