Staying on top of new legislation and law changes is key to being the best property manager possible. Rice Real Estate has access to Legal Counsel Christal Park Keegan, Esq., General Counsel Tiffany Banks and Attorney Ed Kania to ensure we follow all local, state (NRS 118-118A) and federal law. These legal resources allow us to remain a highly rated Green Valley Ranch Property Management Companies in Henderson.
Update from a Recent Legislative Session
Question: I heard property managers/landlords can’t charge late fees until three days after the rent is due. If that’s true, is there a requirement to notify the tenant of the new law and/or does the lease have to be amended?
Answer: AB308 which passed this legislative session, amends NRS 118A.210(4)(a), and beginning July 1st prohibits the imposition or charging late fees on residential properties for at least three (3) calendar days after the date rent is due for any tenancy beyond a week-to-week.
As a result of this new law, property managers have been asking “So how does this affect current leases which impose late fees shorter than 3 days?” Are those “grandfathered” in?
No grandfathering in, sorry.
In practice what this looks like is, courts will only enforce late fees charged after the third day. It’s important to note, the new law says you can have an even longer grace period than 3 days, it just can’t be shorter. So if your lease says, for example 5 days or 7 days grace period, the contract controls.
In the words of NVR President Brad Spires, the biggest success for REALTORS® this session is not in what was passed but rather what we avoided getting passed.
The 81st Legislative Session in Nevada began on February 1, 2021, amid a global pandemic, completely virtually. The only experience with virtual sessions previously was during the two weeks of special sessions in the summer of 2020, which were laden with technology issues and confusing protocols. To say it was difficult to expect what lobbyists would be walking into is an understatement.
The first two months of session were kept entirely virtual, with only legislators being allowed in the Legislative Building and not even having to be on the floor for official votes. During those months, rules were suspended so that bills could pass out of committee the same day they were heard to ease the burden of the backlog of bills. Those rules were ultimately suspended through the remainder of the session.
On April 15, the building began opening to the public in very limited capacity. Anyone entering the building either had to show proof of vaccination or have a negative COVID-19 test that day, and it was extremely difficult acquiring a pass. In the second week of May, the restrictions were slightly loosened, but vaccination status and COVID-19 tests along with masks were still mandatory. For the last week of session, the building was completely opened and those who were vaccinated did not have to wear a mask. It brought back a sense of normalcy to the Legislature with significantly more people in the building each day.
The other new wrinkle to accessing the building was the increased level of security rolled out as the building began to reopen. Every day, when we first entered the building, or returned midday, we were greeted by an extremely sensitive metal detector (think of removing every piece of metal, including belts and shoes), and an x-ray scanner for personal possessions. While the security staff was great, the added inconvenience and delay led to more challenges. That said, the detectors were put in place due to the increased risk and threats to legislators.
In addition to the physical challenges of being in the Legislature, it was very difficult to reach certain legislators, which made lobbying efforts difficult at first. There were many new legislators in the Assembly, and it was easy to shut out public opinions with no one allowed in the building for most of the session.
Diversity and inclusion were the large theme of the 2021 session. Many of the policies adopted by this Legislature were largely shaped by the national scene. Similar to the 2019 session, and as you will read below, a number of policy issues appeared to be driven by a national agenda, rather than what was best for Nevada and Nevadans.
At the beginning of the session, there were a number of problematic bills introduced in both houses related to housing protections. By the end of session, it was narrowed down to three, with one bill offering landlord financial assistance in the form of 100% reimbursement for their rent lost during the COVID-19 pandemic. That bill was AB486 which was introduced in the last two weeks of session.