Property Management
In Nevada, what is the difference between 'wear and tear' and property damage when evaluating a tenant's responsibility?
AThere is no legal distinction; tenants are responsible for everything
BNormal wear and tear (gradual deterioration from ordinary use) cannot be charged to tenants; actual damage beyond normal use can be deducted from the security deposit✓ Correct
CTenants are responsible for all wear and tear but not structural damage
DNevada law defines damage as anything costing more than $500 to repair
Explanation
Nevada law distinguishes between normal wear and tear (expected, gradual deterioration from ordinary use — e.g.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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