RENO and HENDERSON, Nev. – The Residential Recovery Fund hearing held Sept. 19 by the Nevada State Contractors Board (NSCB) resulted in approximately $83,700 being awarded to homeowners for damages incurred by licensed contractors during the first four years of work being performed. The Board heard 10 cases, of which eight were awarded Residential Recovery Fund dollars. Awards to homeowners ranged from $1,120 to $22,000.
“The Recovery Fund is in place to offer homeowners additional protections when they contract with a licensed Nevada contractor,” said Margi A. Grein, NSCB Executive Officer. “It’s always a good feeling to be able to provide homeowners financial recourse in the event they incur damages during their home project.”
The Residential Recovery Fund was established by the Nevada Legislature in 1999. It offers protection to Nevada owners of single-family residences who conduct business with licensed contractors for the performance of any construction, remodeling, repair or improvement. An owner must occupy the residence to qualify. An applicant’s eligibility to receive funds is determined after an investigation is conducted by NSCB. The Fund was designed to assist in providing relief to homeowners, when they have been damaged by licensed contractors.
Contractors are required by law (NRS 624.400 – 624.560) to provide information to a homeowner regarding the Residential Recovery Fund upon establishment of a residential contract with the homeowner. To be considered for the Fund, a complaint must be filed with NSCB within four years after the completion of work.
A single claim cannot exceed $35,000 and claims against a single contractor cannot exceed $400,000. Additional information regarding the Residential Recovery Fund and other services provided by NSCB may be obtained by calling: (702) 486-1100 in Southern Nevada, or (775) 688-1141 in Northern Nevada.
Information is also available on the Contractors Board website at: www.nscb.nv.gov