What Do You Know About The Residential Recovery Fund?
We have all been there scared to have work done on our homes because of incompetent or unqualified contractors. Since 1999 though, The Nevada legislature has helped to protect homeowners from that very problem.
The Nevada legislature established by law The Residential Recovery Fund to give Nevada homeowners who contract with licensed contractors and under some circumstances are harmed by that contractors failure to provide quality services. Any and all licensedContractors including Sub-Contractors who provide residential construction services pay into the Residential Recovery Fund. The responsibility of the fund itself is administered by The Nevada State Contractors Board.
There are some important facts to take note of:
- If you have a complaint on a contractor it must be filed with The Nevada State Contractors Board within four years after completion of the work done.
- Eligibility is determined by the owner living in the home and must be able to show The Nevada State Contractors Board that they have suffered a loss resulting from the work completed or not completed by the Contractor.
- The only time you are ineligible to file a claim against the Residential Recovery Fund is if you are the spouse of a licensee or if the licensee was suspended or revoked pursuant to NRS 624.300 at the time of the contracted work.
Claims that include a false or altered document such as billing, receipts or estimate that are found to include untruthful enhancements, improvements, upgraded services or materials will be denied automatically by the Executive Officer and will not even be considered by The Nevada State Contractors Board.
You will need documentation, such as copies of the agreed upon contract, change orders and any cancelled checks to help establish your claim against the contractor, also it helps to provide consistency in awarding funds and will provide a clean audit trail.
The Nevada State Contractors Board is required by law to act on a complaint within six months after being filed. After that the Residential Recovery Fund Committee meets every sixty days once they meet then within ten days you will receive a Decision & Order in the mail which will advise you of the amount you were rewarded.
If The Nevada State Contractors Board does find that you suffered actual damages resulting from the non-compliance of the Contractor or you have obtained a judgment in a court of law for the recovery of said damages, you can then apply to receive an award from the fund. (Source: NVContractorsboard)
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