NRS 118A.242 Security deposit: Limitation on amount or value; surety bond in
lieu of security deposit; duties and liability of landlord; damages; disputing
itemized accounting of security deposit; prohibited provisions.
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.