Nevada HOA assessments are governed by NRS 116.3115 through 116.3116. Assessments become a statutory lien on the unit. Super-priority lien covers up to 9 months of delinquent assessments ahead of first mortgages.
HOA assessments in Reno are the primary funding mechanism for common areas, reserves, and operations. Under NRS 116.3115, the budget and assessment levels must be set annually with owner notice. Reserve studies are required under NRS 116.31152 for communities with common elements, updated every 5 years. Delinquent assessments become a lien on the unit under NRS 116.3116. Nevada is unique in granting a super-priority lien status for up to 9 months of assessments plus certain fees, which takes priority even over first mortgages (as confirmed in SFR Investments v. U.S. Bank, 130 Nev. 742). Foreclosure is allowed after proper notice and cure period.
Delinquent assessments: late fees, interest, attorney fees, and foreclosure. Improper assessment increases: challengeable via NRED complaint or civil suit.
See how Reno's assessment & dues rules stack up against other locations.
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