By NVHAC Organization Tuesday, March 19, 2024
Section 1. Short Title This Act may be cited as the "Rental Increase Limitation Act."
Section 2. Purpose The purpose of this Act is to regulate rental increases by landlords for residential properties in Nevada, ensuring stability and fairness for tenants and promoting reasonable intervals for adjustments in rental amounts.
Section 3. Definitions For the purposes of this Act: (a) "Landlord" means the owner, lessor, or sublessor of a residential property, or an agent, representative, or successor of any of the foregoing. (b) "Tenant" means a person entitled under a rental agreement to occupy a residential property to the exclusion of others. (c) "Residential property" means any dwelling or living accommodation provided for residential use or occupancy.
Section 4. Frequency of Rental Increase (a) Landlords shall be prohibited from increasing the rental amount for a residential property more than once in a 12-month period. (b) Prior to implementing any rental increase, the landlord must provide the tenant with written notice indicating the revised rental amount at least 60 days before the proposed increase takes effect.
Section 5. Exceptions The limitation on rental increases established in Section 4 shall not apply in cases where: (a) The tenant voluntarily agrees to a rental increase in exchange for additional services, amenities, or improvements provided by the landlord. (b) There exists a valid contractual agreement between the landlord and the tenant that specifies different terms regarding rental increases.
Section 6. Enforcement and Penalties (a) The Nevada Housing Division shall be responsible for enforcing the provisions of this Act. (b) Any landlord found in violation of this Act shall be subject to penalties as determined by the Nevada Housing Division, including but not limited to fines and/or restitution to the affected tenant.
Section 7. Effective Date This Act shall become effective on July 1, 2025.