# Nevada HOA Late Fees and Interest > Nevada Revised Statutes 116.3102(1)(k) lets an HOA or condo association charge for late payment of assessments, but Chapter 116 puts no dollar or percentage cap on that late charge. The amount comes from the CC&Rs and the association's collection policy. Interest is different. Under NRS 116.3115(3), an assessment that is 60 days or more past due bears interest at the Nevada prime rate plus 2 percent, reset every January 1 and July 1. Prime was 6.75% on July 1, 2026, so the rate for the second half of 2026 is 8.75% a year. Before the association can start collection, it has to mail you a fee schedule and a proposed repayment plan, and give you 30 days to respond. _Source: https://hoanotes.com/hoa/nevada/late-fees/ | Last reviewed 2026-10-06_ ## Late fees: no number in the statute The statute gives the association the power to charge a late fee and stops there. NRS 116.3115, the section the power points to, says nothing about the size of a late charge, and the Nevada Administrative Code has no late-fee rule either. So a $25 or $50 monthly late fee is not illegal on its face in Nevada. You find the real number in the CC&Rs and the collection policy, not in state law. The board has to share that policy. NRS 116.31151(4) requires the association to make its collection policy available to every owner at the same time it distributes the annual budget. If the packet has no collection policy, ask for it. ## Interest: prime plus 2%, after 60 days Interest does not start the day a payment is late. It applies once an assessment is 60 days or more past due. The rate is the prime rate at the largest bank in Nevada, as published by the Commissioner of Financial Institutions on the January 1 or July 1 before the assessment went past due, plus 2 percent. It resets every six months until the balance is paid. Here is the math for a $300 monthly assessment that became past due in August 2026. Prime was 6.75%, so the rate is 8.75% a year. Once that payment is 60 days late, it adds about $2.19 a month in interest. The statute states the rate itself and has no clause letting the CC&Rs pick another, so a flat 18% rate in older documents does not match it. ## The repayment plan offer Under NRS 116.31162(4), the association cannot send a notice of delinquent assessment or take other collection action until it has mailed three things, no earlier than 60 days after the amount became past due: a schedule of the fees it may charge, a proposed repayment plan, and notice of your right to contest the debt at a board hearing. You then have 30 days to pay, accept the plan, or ask for a hearing. Collection fees after that point have their own limits under NAC 116.470, covered on our Nevada collection costs page. ## What to check in the disclosure packet Read these before you make an offer: - The late fee amount in the CC&Rs or the collection policy. - The interest rate the documents state, compared with prime plus 2%. - Whether interest on the seller's ledger starts before day 60. - Any late fees, interest, or collection charges already on the seller's account. ## Why this matters to your offer Under NRS 116.3116(1), late charges are enforceable as assessments unless the declaration says otherwise, so they become part of the association's lien on the home. If a seller's balance is not cleared at closing, you can inherit the problem. An HOA Notes brief reads the collection policy and the ledger, compares the stated interest rate with the statute, and cites the page behind each finding so you know what a missed payment would cost. ## What the statute says **Nevada Revised Statutes section 116.3115(3) and section 116.3102(1)(k)** (Late charges and interest on assessments). An assessment or installment that is 60 days or more past due bears interest at the prime rate at the largest bank in Nevada, as set by the Commissioner of Financial Institutions on the January 1 or July 1 before the assessment became past due, plus 2 percent, adjusted each January 1 and July 1 (NRS 116.3115(3)); the statute states the rate itself and has no clause letting the declaration choose another. NRS 116 sets no dollar or percentage cap on late charges. Before collection action, not earlier than 60 days after the obligation is past due, the association must mail a fee schedule, a proposed repayment plan and notice of the right to a board hearing, then wait 30 days (NRS 116.31162(4)). The association may impose charges for late payment of assessments (NRS 116.3102(1)(k)) in amounts its governing documents and collection policy set, and unless the declaration provides otherwise late charges are enforceable as assessments under NRS 116.3116(1). Its collection policy must be made available with the budget (NRS 116.31151(4)). ## Nevada HOA late fees: common questions ### Is there a cap on HOA late fees in Nevada? No. NRS 116.3102(1)(k) allows late charges, but Chapter 116 sets no dollar or percentage limit. The amount comes from the CC&Rs and the association's collection policy. ### What interest can a Nevada HOA charge on unpaid dues? Under NRS 116.3115(3), an assessment 60 or more days past due bears interest at the Nevada prime rate plus 2 percent, reset each January 1 and July 1. For the second half of 2026 that is 8.75% a year. ### Does the HOA have to offer a payment plan? Yes, before collection begins. No earlier than 60 days after the debt is past due, it must mail a fee schedule, a proposed repayment plan, and notice of your right to a board hearing, then wait 30 days. ## Sources (verified 2026-10-06) 1. Nevada Revised Statutes section 116.3115 (assessments; interest on past due assessments), Nevada Legislature. Verified 2026-10-06. https://www.leg.state.nv.us/NRS/NRS-116.html#NRS116Sec3115 2. Nevada Revised Statutes section 116.3102 (powers of the association; late charges), Nevada Legislature. Verified 2026-10-06. https://www.leg.state.nv.us/NRS/NRS-116.html#NRS116Sec3102 3. Nevada Revised Statutes section 116.31162 (notice, fee schedule, repayment plan), Nevada Legislature. Verified 2026-10-06. https://www.leg.state.nv.us/NRS/NRS-116.html#NRS116Sec31162 4. Prime interest rate table, July 1, 2026, Nevada Financial Institutions Division. Verified 2026-10-06. https://fid.nv.gov/uploadedFiles/fidnvgov/content/Resources/Prime%20Interest%20Rate%20July%201,%202026.pdf 5. Past due obligations and foreclosure: CIC fast reference, Nevada Real Estate Division. Verified 2026-10-06. https://red.nv.gov/uploadedfiles/rednvgov/Content/CIC/Program_Training/Fast_Reference/Pastdueobligationsandforeclosure.pdf HOA Notes is not a law firm and this is not legal advice.