Nevada Administrative Code › Chapter 116 - Common-Interest Ownership › MANAGEMENT OF COMMON-INTEREST COMMUNITIES › Unit-Owners' Associations › Section 116.470 - Fees and costs for collection of past due obligations of unit's owner

Current through June 11, 2024
1. Except as otherwise provided in subsection
				5, to cover the costs of collecting any past due obligation of a unit's owner,
				an association or a person acting on behalf of an association to collect a past
				due obligation of a unit's owner may not charge the unit's owner fees in
				connection with a notice of delinquent assessment pursuant to paragraph (a) of
				subsection 1 of NRS
				116.31162 which exceed a total of $2,925,
				plus the costs and fees described in subsections 3 and 4.
2. An association or a person acting on
				behalf of an association to collect a past due obligation of a unit's owner may
				not charge the unit's owner fees in connection with a notice of delinquent
				assessment pursuant to paragraph (a) of subsection 1 of
				NRS
				116.31162 which exceed the following amounts:
(a) Demand or intent to lien letter
								......................................................................
$240.00
(b) Notice of delinquent assessment lien
								...........................................................
520.00
(c) Intent to notice of default letter
								....................................................................
145.00
(d) Notice of default
								...........................................................................................
640.00
(e) Intent to notice of sale letter
								.........................................................................
145.00
(f) Notice of sale
								................................................................................................
440.00
(g) Intent to conduct foreclosure sale
								.................................................................
40.00
(h) Conduct foreclosure sale
								..............................................................................
200.00
(i) Prepare and record transfer deed
								...................................................................
200.00
(j) Payment plan agreement - One-time set-up fee
								............................................
50.00
(k) Payment plan breach letter
								...........................................................................
40.00
(l) Release of notice of delinquent assessment lien
								...........................................
50.00
(m) Notice of rescission fee
								...............................................................................
50.00
(n) Bankruptcy package preparation and
								monitoring.........................................
160.00
(o) Mailing fee per piece for demand or intent to
								lien letter, notice of delinquent assessment lien, notice of default and notice
								of sale .............................................
3.20
(p) Insufficient funds fee
								....................................................................................
30.00
(q) Escrow payoff demand fee
								...........................................................................
240.00
(r) Substitution of agent document fee
								...............................................................
50.00
(s) Postponement fee
								..........................................................................................
120.00
(t) Foreclosure fee
								..............................................................................................
240.00
3.
				If, in connection with an activity described in subsection 2, any costs are
				charged to an association or a person acting on behalf of an association to
				collect a past due obligation by a person who is not an officer, director,
				agent or affiliate of the community manager of the association or of an agent
				of the association, including, without limitation, the cost of a trustee's sale
				guarantee and other title costs, recording costs, posting and publishing costs,
				sale costs, mailing costs, express delivery costs and skip trace fees, the
				association or person acting on behalf of an association may recover from the
				unit's owner the actual costs incurred without any increase or
				markup.
4. If an association or a
				person acting on behalf of an association is attempting to collect a past due
				obligation from a unit's owner, the association or person acting on behalf of
				an association may recover from the unit's owner:
(a) Reasonable management company fees for
				services, including, without limitation, mailing or delivering by electronic
				transmission a notice of delinquent assessment pursuant to paragraph (a) of
				subsection 1 of NRS
				116.31162 or informing each unit's owner or
				his or her successor in interest that he or she may be entitled to certain
				protections if the person is a servicemember or a dependent of a servicemember
				in accordance with NRS 116.311625, which may not
				exceed a total of $325; and
(b)
				Reasonable attorney's fees and actual costs, without any increase or markup,
				incurred by the association or a person acting on behalf of the association for
				any legal services which do not include an activity described in subsection
				2.