Rental Lease Agreement Template

Washington D.C. West Virginia Wisconsin Wyoming

By Type (15 )
consumerist.com
Standard Lease

1-Page

Commercial

Condominium

Equipment

Member of the family

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. homes are tenants (44 million). [1] [2]- 68.2% of leases are fixed-term. [3]- 31.8% of leases are month-to-month.

30% of an occupant's earnings (usually) is invested in lease. [4]
1. Tenant Views the Space

The occupant's initial step in the leasing process is seeing the area. This is commonly after seeing photos of the residential or commercial property on a site where it was listed.

Renting Trends (2023 )

91% of renters utilize a site or mobile app when browsing, and 19% make an application for housing without requiring an in-person tour. [5]
2. Obtain a Rental Application

Before an offer is accepted, the proprietor normally demands a renter to complete a rental application and pay a small fee (view maximum fees by state). The most common charge was $50 in 2023. [6]
Applicant Details

- Applicant's name & address
Employment details
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 (eviction search, background check, and so on).

Recommended Services

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

4. Verify References

The applicant's company and previous property owners should be gotten in touch with. This offers insight into the applicant's character and if they pay their rent on time.

Questions to Ask a Previous Landlord

- Was lease paid on time throughout the tenancy?
Did the occupant breach 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 renter once again?

5. Negotiate the Lease

Once an occupant is authorized, the parties will start negotiating the rental terms. If the tenant is a creditworthy person, they might have the ability to get a better offer due to their financial status.

Negotiation Items

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

6. Lease Signing

When both celebrations sign the lease it ends up being lawfully binding until the end of its term. The most common ways to sign are in-person or electronically.

Required at Lease Signing

- First month's rent.
Down payment.
Identification

7. Taking Occupancy

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

Inspecting the Residential or commercial property

To secure the down payment, it is suggested that the tenant finish a move-in evaluation kind and note any existing residential or commercial property damage. In 2023, just 42% of tenants stated they got fully refunded on their security deposit. [7]
8. End of Tenancy

The proprietor will inform the renter of their objective to restore or end the lease between 30 and 90 days before completion of the tenancy. If the property manager ends the lease, the renter's down payment will be returned after move-out.

Landlord's Options

Renew the Lease - By sending 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' rent, except for systems leasing for more than $2,000 2 week if the tenant leaves on-time, 1 month if not § 34.03.070( a), § 34.03.070( g). Arizona 1.5 months' rent 14 days from move-out evaluation (excl. weekends and holidays) § 33-1321. Arkansas 2 months' lease 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' rent (excluding 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 lease is 62 years or older, 2 months' lease if younger 21 days from the move-out date or 15 days from receiving the occupant's brand-new address § 47a-21. Delaware 1 month's rent for leases of one year or more. No limitation on all others types 20 days from the termination date Title 25 § 5514. Florida No limitation 1 month 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 (leaving out family pet cost) 14 days from the termination date § 521-44. Idaho No limitation 30 days if stated in the lease, 21 days if not § 6-321. Illinois No limit 1 month if reductions, 45 days if no reductions 765 ILCS 710. Indiana No limitation 45 days from the termination date § 32-31-3-12. Iowa 2 months' rent one month after the occupant has left § 562A.12. Kansas 1 month's lease (unfurnished), 1.5 months' rent (provided) 2 week after making reductions or one month from the termination date § 58-2550. Kentucky No limit 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' lease 1 month 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 1 month after the renter has left Chapter 186, Section 15B. Michigan 1.5 months' lease one month from completion of tenancy § 554.602, § 554.609. Minnesota No limit 3 weeks from the termination date § 504B.178. Mississippi No limit 45 days from completion of tenancy § 89-8-21. Missouri 2 months' rent one month from the termination of occupancy § 535.300. Montana No limit 30 days if reductions, 10 days if no deductions § 70-25-202. Nebraska 1 month's lease (leaving out pet cost) 14 days of move-out § 76-1416. Nevada 3 months' rent one month from the end of tenancy NRS 118A.242. New Hampshire 1 month's rent or $100, whichever is higher 1 month, 20 days if the residential or commercial property is shared with the proprietor RSA 540-A:6, RSA 540-A:7. New Jersey 1.5 months' rent one month 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 residential leases of one year or more one month from the termination date § 47-8-18. New York 1 month's lease unless the deposit or advance is for a seasonal use residence unit 14 days after the occupant has actually vacated Emergency Tenant Protection Act 576/74( f), § 7-108 (e). North Carolina 2 months' lease for tenancies of more than 2 months