The Nevada commercial lease agreement is a legally binding contract that allows a business to use a commercial space in exchange for rent. This document outlines the responsibility of the landlord and the business when it comes to maintaining the property. It is usually longer than a residential lease.
Nevada Commercial Landlord/Tenant Laws
- In Nevada, commercial leases will be required to be relatively all-inclusive since they have longer terms than standard residential leases.
- At the start of the lease, the parties will decide the rent/utility/expense breakdown. This may mean that the business owner will be responsible for utilities in addition to expenses like the tax and insurance as well, or they may just be responsible for rent. Some lease options even include the ability to pay the landlord a percentage of profits, which can make poorer-performing businesses less costly until business can improve.
- Nevada has a few disclosures on the books that are required. For example, based on Nevada and federal law, for buildings constructed before 1978, the landlord must disclose the presence of lead paint since it’s a hazard.
- The summary eviction process for a business in Nevada is typically faster than it would be for residential tenants. This is due to the fact that five days’ notice is all that’s required for late rent.
- Landlords are not allowed to remove doors, hatchways, or other mechanisms connected to doorways for entry for a commercial lease unless under a bona fide repair or replacement.
- For legality, the final section will need to have the signed and printed names of both parties. Additionally, the date of the signing should be provided, and the document should be notarized.