A Nevada Standard One (1) Year Lease Agreement is, as implied by the name, the most standard form of long term lease. Unlike a Month to Month Lease, this kind of lease will run for the full year without alteration unless it is violated or a clause in the lease itself allows for an alteration. This makes it an ideal form of lease for landlords and tenants who are looking for a certain amount of stability in their lease.
As it cannot be terminated without the landlord having cause and going through the eviction process, a tenant can be certain that they will have a place to live for the entirety of the lease, so long as they maintain their end of the lease. In addition, the landlord will be certain the tenant will maintain their lease for as long as they are able, since if they break the lease they can be held financially responsible for the lease until the landlord finds a new tenant. Both parties should still be completely sure before signing, and the landlord will usually want the tenant to complete the Rental Application Form before signing.
As the most common form of a long term Residential Lease, a One Year Lease will be subject to all of the laws governing residential leases, which in Nevada can be found in Nevada Revised Statutes, Chapters 40 and 113.
- If a Nevada landlord wishes to charge any nonrefundable fees, they must specify what purpose of the fees are.
- The lease must include a summary of the laws pertaining to the penalties for causing or maintaining a nuisance, as well as a summary of the tenant’s rights to display a flag.
- A Nevada landlord is required to disclose (albeit not necessarily in the lease itself) whether the property is in the midst of foreclosure proceedings.
- A Nevada landlord is require to disclose what conditions must be met in order for the security deposit to be returned.
- Federal law requires that a landlord disclose the presence of any lead paint based hazards on or around the property.