Notarization of Rental Agreements in Nevada
I have not seen discussion on Assembly Bill 161 that took place this month witch effects rental agreements in Nevada. If you don;t use a licensed property manager (or even if you do) you may want to re-visit your rental agreement practices. I took the below from Las Vegas Review-Journal.
— Assembly Bill 161, which takes effect July 1, targets squatters. It requires rental contracts to have a disclosure creating “rebuttable presumptions” that tenants don’t have the right to live there if they can’t furnish a notarized or management-signed lease.
(For those, like me, unfamiliar with this legalese, a rebuttable presumption is something that can be “inferred from the existence of a given set of facts,” according to Cornell Law School’s Legal Information Institute.)
Squatters in Las Vegas routinely have fake leases, and AB 161 initially sought to require that rental contracts for single-family homes be notarized. But real estate pros and others pushed back.
Berkshire Hathaway HomeServices broker Heidi Kasama, next year’s president of the Nevada Association of Realtors, told me a few months agothat AB 161, as originally proposed, was a “well-intentioned bill” but would be a “nightmare” in practice.
https://www.reviewjournal.com/business/business-columns/real-estate-insider/flurry-of-housing-related-measures-signed-into-law-by-sandoval/