NRS 118A.525 Establishment of program; conditions and limitations; adoption
of regulations.
1. The Housing Division of the Department
of Business and Industry may establish a program for the reporting of rental
payments to a credit reporting agency. Any such program must be offered at no
cost to a landlord or tenant.
2. The Division may not require any
landlord or tenant to participate in such a program. A landlord shall not
require any tenant to participate in the program or subject a tenant to any
penalty or consequence for not participating in the program.
3. The Division may:
(a) Establish requirements for any landlord or
tenant to voluntarily participate in the program, including, without
limitation, any safeguard necessary to ensure that participation in the program
is voluntary and that tenants are not subject to any adverse action for
participating or not participating in the program.
(b) Provide guidelines for the use of an
independent third-party vendor to manage the collection and reporting of rental
payments. The Division shall maintain and publish a list of third-party vendors
that are approved by the Division to manage the reporting of rental payments
pursuant to the program.
4. The Division may adopt any regulation
necessary to carry out the provisions of this section, including, without
limitation:
(a) Criteria for approving an independent
third-party vendor to manage the collection and reporting of rental payments;
(b) Requirements for tenants to be notified and
provide proper consent to participate in the program; and
(c) Procedures for resolving any dispute relating
to the reporting of rental payments pursuant to the program.
(Added to NRS by 2025,
2788)
SAVING PROVISION