New Law for Landlords

[Bill Schrimpf]

Hi all – Just a heads up, NV passed a law (SB 151) that recently went into effect. This law impacts landlord’s least favorite topics such as late fees and evictions. Two key items I’m familiar with is a 5% cap on late fees and several procedural changes regarding evictions. If you are a landlord in NV you should familiarize yourself with SB 151. If your using property managers, makes sure they know about the changes.

The law is new enough that many specific aspects have not yet been challenged in or interpreted by courts.

Has anyone had any experience with the new law?