Property Management
Under Nevada law, which of the following is an allowable deduction from a tenant's security deposit?
ANormal wear and tear from ordinary use
BDamage beyond normal wear and tear✓ Correct
CRoutine cleaning that would be done regardless of the tenant's actions
DProperty tax increases during the tenancy
Explanation
Nevada landlords may deduct from security deposits for unpaid rent, damage beyond normal wear and tear, and cleaning costs only if the tenant left the unit in worse condition than at move-in. Normal wear and tear cannot be deducted.
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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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