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How are security deposit deductions calculated when a tenant moves out?

Asked by Trulia Fort Lauderdale, Fort Lauderdale, FL Tue Apr 9, 2013

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Rena (Rina) Levy’s answer
NEVADA SECURITY DEPOSITS
RS 118A.244  Notice or transfer of security to tenant and successor in interest required upon transfer of dwelling unit.

      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 agent shall, within a reasonable time, do one of the following, which relieves him of further liability with respect to the security:

      (a) Notify the Nevada tenant in writing of the name, address and telephone number of his successor in interest, and that he has transferred to his successor in interest the portion of the security remaining after making any deductions allowed under NRS 118A.242.

      (b) Return to the tenant the portion of the security remaining after making any deductions allowed under NRS 118A.242.

A landlord cannot legally deduct for normal wear and tear. This refers to deterioration which occurs during regular, daily, intended use of the rental unit, for example nail holes in the walls from pictures or paintings. An itemized list of repairs has to be provided to the tenants in writing.

Landlord in Nevada have to return the security deposit within 30 days from termination of the lease.

Rena Levy
Broker/Associate
Realty Executives of Nevada
702-612-7099 direct
Rena@cvegashomes.com
Skype: rinalevy18
Web Reference: Http://www.cvegashomes.com
1 vote Thank Flag Link Wed Apr 10, 2013
Thank you Robert!!!

Rena Levy
Broker/Associate
Certified International Property Specialist
Realty Executives of Nevada
702-612-7099 direct
Rena@cvegashomes.com
Skype: rinalevy18
0 votes Thank Flag Link Thu Apr 11, 2013
Rena,
I gave you a thumbs up for giving the best answer for NV.


Best Regards,
Robert Adams
Broker/Salesman
The Adams Team at
Rothwell Gornt Companies
C:702-349-9175
O:702-932-8813
F:702-932-8826
RobertAdams@LVrealestateHELP.com
http://www.LVrealestateHELP.com
0 votes Thank Flag Link Wed Apr 10, 2013
This issue like every other issue is negotiated and agreed to at the begining and put into the lease. It is "standard" to put in lease that Security Deposit is refundable if home is returned in same condition it was rented. Normal wear and tear needs to be negotiated as to what you want to charge but it is in the lease up front. You may want to charge a Cleaning Fee of ? to help with normal wear and tear and/or pet deposit and 15.00 per month additional if pet. etc. Call me if you have more questions. We manage over 400 homes and work with a lot of investors. Matt 702.501.0973
0 votes Thank Flag Link Tue Apr 9, 2013
It really depends on the property manager, but typically what they'll do is do a walk through of your home and any repairs that need to be made (that were not existing before you lived there) are noted and repaired. You will get a copy of the punch-list and the amount they paid to do the repairs and that amount is taken from your deposit with the difference being credited back to you. Your lease should outline this for you and the process varies depending on your contract.

Steve
0 votes Thank Flag Link Tue Apr 9, 2013
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