Legal Question in Real Estate Law in Nevada
Rent loss curtailment
I own a number of rental units. This year I have been hammered by a number of non-paying tenants. I'm going to do a more thorough tenant screening in the future. Each eviction cost me 3+ months rent loss (30 days non pay +5 day notice + eviction delay + vacancy + service fees + advertising + etc.etc.). All my tenants sign a 12 month lease. When they breach their agreement, they go to a month-to-month tenancy.
QUESTION: Is there some way to incorporate within the lease document a waiver of the 30 period, and their agreement to an ejectment process to be initiated say after the rent is delinquent 10 days or more???? This would cut my financial loss in half.
1 Answer from Attorneys
Re: Rent loss curtailment
Joel Selik
Attorney/BrokerNo you cannot at is against public policy and the written law (which says it can not be waived, assuming this is residential). There are some steps, as part of an overall business plan, that may be able to reduce your losses. You would need a comprehensive review of your agreements and operating methods to determine this.
1-800-894-2889
www.SelikLaw.com
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