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The Nevada standard residential lease agreement is designated for landlords and tenants seeking to make a legally binding contract that sets the conditions for occupying a property in return for a monthly payment. What sets the residential lease apart from other types is that it is for a fixed term (usually one (1) year). Before signing any type of agreement, the landlord will usually ask for the tenant to authorize a rental application to make sure that they are financially stable and able to handle the monthly payments. If approved, an agreement should be written and signed by the tenant. After signing, a Security Deposit of no more than three (3) months’ rent should be sent to the landlord (if applicable). Laws – NRS Chapter 118A (Landlord and Tenant: Dwellings)
Handbook – Nevada Landlord-Tenant Handbook
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