Rental Lease Agreement Template

Washington D.C. West Virginia Wisconsin Wyoming

By Type (15 )
wiktionary.org
Standard Lease

1-Page

Commercial

Condominium

Equipment

Family Member

Hunting (Land)

Month-to-Month

Parking Space

Rent-to-Own

Roommate

Storage Space

Sublease

Vacation (short-term)

Weekly

The Leasing Process (8 actions)

Housing Statistics

- 33.6% of U.S. families are occupants (44 million). [1] [2]- 68.2% of leases are fixed-term. [3]- 31.8% of leases are month-to-month.

30% of a renter's earnings (usually) is invested in rent. [4]
1. Tenant Views the Space

The renter's initial step in the leasing procedure is seeing the space. This is frequently after seeing photos of the residential or commercial property on a site where it was noted.

Renting Trends (2023 )

91% of tenants utilize a website or mobile app when searching, and 19% request housing without requiring an in-person trip. [5]
2. Obtain a Rental Application

Before an offer is accepted, the property owner normally demands a renter to complete a rental application and pay a little fee (view optimum charges by state). The most typical cost was $50 in 2023. [6]
Applicant Details

- Applicant's name & address
Employment information
Income verification
Previous property managers
Consent (to run a credit check)

3. Screen the Applicant

Use the rental application to run a consumer report. This consists of running a credit report and browsing public records (expulsion search, background check, and so on).

Recommended Services

- Limited ($ 21) - RentPrep.com
Detailed ($ 40) - MySmartMove.com

4. Verify References

The applicant's employer and previous property owners need to be gotten in touch with. This uses insight into the candidate's character and if they pay their rent on time.

Questions to Ask a Previous Landlord

- Was rent paid on time throughout the occupancy?
Did the tenant violate the lease?
What was the reason for leaving the residential or commercial property?
Was there damage made on the residential or commercial property?
Would you re-rent to the occupant once again?

5. Negotiate the Lease

Once an occupant is authorized, the parties will start negotiating the rental terms. If the occupant is a creditworthy person, they might be able to get a much better deal due to their financial status.

Negotiation Items

- Monthly lease ($).
Down payment.
Utilities.
Fees (e.g., parking, animals, trash, and so on)

6. Lease Signing

When both celebrations sign the lease it ends up being legally binding up until completion of its term. The most common methods to sign are in-person or digitally.

Required at Lease Signing

- First month's rent.
Down payment.
Identification

7. Taking Occupancy

After signing the lease and making initial payments, the renter should be admitted to the residential or commercial property at the start of the lease term. Generally, a tenant can stagnate into the residential or commercial property unless they have actually made an extra payment.

Inspecting the Residential or commercial property

To secure the down payment, it is suggested that the renter complete a move-in assessment type and note any existing residential or commercial property damage. In 2023, just 42% of tenants said they got totally reimbursed on their down payment. [7]
8. End of Tenancy

The landlord will notify the occupant of their intent to renew or terminate the lease between 30 and 90 days before completion of the tenancy. If the property manager ends the lease, the renter's security deposit will be returned after move-out.

Landlord's Options

Renew the Lease - By sending out a Lease Extension. Terminate the Lease - By sending out a Non-Renewal Lease Letter. Landlord-Tenant Laws

Security Deposit Laws. Expand Collapse. State Maximum ($). Returning. Statute. Alabama 1 month's lease 60 days after the termination date and shipment of belongings § 35-9A-201( a), 35-9A-201( b). Alaska 2 months' lease, except for units leasing for more than $2,000 2 week if the occupant leaves on-time, 30 days if not § 34.03.070( a), § 34.03.070( g). Arizona 1.5 months' lease 14 days from move-out examination (excl. weekends and holidays) § 33-1321. Arkansas 2 months' rent 60 days from termination of occupancy § 18-16-304, § 18-16-305. California 1 month's lease 21 days from the move-out date 1950.5. Colorado 2 months' lease (omitting animal deposits) 1 month if pointed out in the lease, 2 months if not C.R.S. § 38-12-102.5

§ 38-12-103. Connecticut 1 month's rent is 62 years or older, 2 months' rent if younger 21 days from the move-out date or 15 days from getting the tenant's new address § 47a-21. Delaware 1 month's rent for leases of one year or more. No limit on all others types 20 days from the termination date Title 25 § 5514. Florida No limit 30 days if reductions, 15 days if no reductions § 83.49( 3 )( a). Georgia 2 months' lease thirty days from the termination date § 44-7-30.1

§ 44-7-34. Hawaii 1 month's rent (excluding family pet cost) 14 days from the termination date § 521-44. Idaho No limit one month if specified in the lease, 21 days if not § 6-321. Illinois No limitation 1 month if deductions, 45 days if no deductions 765 ILCS 710. Indiana No limitation 45 days from the termination date § 32-31-3-12. Iowa 2 months' lease 1 month after the occupant has actually abandoned § 562A.12. Kansas 1 month's lease (unfurnished), 1.5 months' rent (provided) 2 week after making deductions or one month from the termination date § 58-2550. Kentucky No limitation 60 days from the lease termination date § 383.580( 6 ). Louisiana No limitation 1 month from the termination date Revised Statute 9:3251. Maine 2 months' rent 30 days if the lease is fixed-period, 21 days if tenancy-at-will § 6032, § 6033. Maryland 1 month's rent 45 days from the termination date § 8-203. Massachusetts 1 month's rent thirty days after the renter has abandoned Chapter 186, Section 15B. Michigan 1.5 months' lease thirty days from completion of tenancy § 554.602, § 554.609. Minnesota No limitation 3 weeks from the termination date § 504B.178. Mississippi No limitation 45 days from the end of tenancy § 89-8-21. Missouri 2 months' lease one month from the termination of tenancy § 535.300. Montana No limit one month if deductions, 10 days if no reductions § 70-25-202. Nebraska 1 month's rent (excluding animal charge) 14 days of move-out § 76-1416. Nevada 3 months' rent one month from the end of occupancy NRS 118A.242. New Hampshire 1 month's lease or $100, whichever is higher 30 days, 20 days if the residential or commercial property is shown the landlord RSA 540-A:6, RSA 540-A:7. New Jersey 1.5 months' lease thirty days from the termination date § 46:8 -21.2, § 46:8 -21.1. New Mexico 1 month's lease for leases under one year. No limit for domestic leases of one year or more 1 month from the termination date § 47-8-18. New york city 1 month's lease unless the deposit or advance is for a seasonal use dwelling system 2 week after the occupant has actually left Emergency Tenant Protection Act 576/74( f), § 7-108 (e). North Carolina 2 months' lease for occupancies of more than 2 months