Nevada bill would stop landlords from raising rent first year of tenancy
LAS VEGAS, Nev. (FOX5) - A bill being considered by the Nevada Legislature would prohibit, with few exceptions, landlords from increasing the rent of tenants for the first 12 months of a lease, if passed.
SB426 states landlords will also not be able to charge prospective tenants more than what the current tenant of a property is being charged or more than what has been advertised.
Landlords will also be able to get exemptions to cost-of-living increases, meaning if the operating costs of the property are higher than the cost-of-living increase, the bill says.
Tenants who feel they have been damaged by landlords increasing rent within the first year could also bring a civil action against them seeking damages, according to SB426.
If passed, the bill would go into effect July 1, 2024.
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