Security Deposit Alternative in Nevada
Nevada limits what you can hold to three months' rent, and that ceiling counts the security deposit, any surety bond, and the last month's rent together rather than separately. You then have 30 days after the tenancy ends to send an itemized written accounting and return the balance. Miss it and you owe the resident the entire deposit, plus a further sum up to the deposit again that the court sets by asking whether you acted in good faith.
What Nevada law says about security deposits
Read from the Nevada statute on 2026-09-09. Deposit rules change, and this is general information rather than legal advice. Confirm the current text with your own counsel before you change a lease.
Can you require it of every Nevada resident?
Nevada answers the mandatory question directly. Subsection 2 lets a tenant purchase a surety bond in lieu of paying all or part of the deposit if the landlord consents, and subsection 3 draws the line in both directions: you are not required to accept a bond, and you may not require a tenant to purchase one. Two more details shape how a program has to be built here. NRS 118A.240 defines a security deposit by what the money is for, so any payment, deposit, fee or charge used to cover unpaid rent, damage beyond normal wear, or cleaning is a deposit whatever the lease calls it, and the premium paid to a qualified surety is carved out of that definition by name. Subsection 8 then voids any lease provision describing a security deposit as nonrefundable, apart from a reasonable cleaning charge.
Fee-in-lieu provision: NRS 118A.242(2) and (3), read on 2026-09-09.
Rules differ by state and by city, and subsidized housing is its own question. This is general information for property managers, not legal advice. Get a written opinion before you make the fee a condition of tenancy anywhere.
How the program works in Nevada
The mechanics are the same in every state Beagle operates in. The program is designed to comply with applicable state and local regulations, and the rate is set by the deposit amount rather than by geography, so a Nevada property and one two states over are quoted the same way.
The resident chooses at signing
Instead of producing the full deposit, the resident pays a smaller non-refundable monthly fee that is billed with rent. Nothing is held, so nothing has to be returned.
The property keeps its protection
Damage beyond normal wear is reimbursed up to the deposit amount the unit would otherwise have required, so what you can recover does not shrink.
Move-out stops being a negotiation
A claim is filed against the program rather than deducted from money you are holding, which takes the itemised-deduction letter and the dispute that follows it off your team's desk.
You earn on every resident who takes it
You set an administrative fee on top of the premium, up to $5 per unit per month, and keep it.
Nevada security deposit alternative FAQs
No. NRS 118A.242 says a landlord may not require a tenant to purchase a surety bond in lieu of paying all or part of the security deposit. The same subsection says you are not obliged to accept one either, so it is a choice both sides have to agree to. The offered version is the only version that works in Nevada.
See it on your Nevada units
Run the program against your own unit count, or walk through it with our team. No upfront fees, no onboarding charges, no long-term contracts.