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Rental Lease Agreement Template
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bnpparibas.de
Washington D.C.
West Virginia
Wisconsin
Wyoming
By Type (15 )
Standard Lease
1-Page
Commercial
Condominium
Equipment
Relative
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 tenants (44 million). [1] [2]- 68.2% of leases are fixed-term. [3]- 31.8% of leases are month-to-month.
- 30% of a tenant's income (usually) is invested in lease. [4]
1. Tenant Views the Space
The renter's very first action in the leasing process is viewing the space. This is frequently after seeing images of the residential or commercial property on a website where it was noted.
Renting Trends (2023 )
91% of occupants use a website or mobile app when browsing, and 19% obtain housing without requiring an in-person tour. [5]
2. Obtain a Rental Application
Before a deal is accepted, the proprietor normally demands an occupant to finish a rental application and pay a little fee (view optimum charges by state). The most common fee was $50 in 2023. [6]
Applicant Details
- Applicant's name & address - Employment details
- Income verification
- Previous landlords
- Consent (to run a credit check)
3. Screen the Applicant
Use the rental application to run a customer report. This includes running a credit report and browsing public records (expulsion search, background check, and so on).
Recommended Services
- Limited ($ 21) - RentPrep.com - Detailed ($ 40) - MySmartMove.com
4. Verify References
The candidate's employer and previous proprietors must be called. This offers insight into the candidate's character and if they pay their rent on time.
Questions to Ask a Previous Landlord
- Was lease paid on time throughout the occupancy? - Did the renter break the lease?
- What was the factor for leaving the residential or commercial property?
- Existed damage made on the residential or commercial property?
- Would you re-rent to the renter again?
5. Negotiate the Lease
Once a renter is approved, the celebrations will begin negotiating the rental terms. If the occupant is a creditworthy person, they may be able to get a better deal due to their financial status.
Negotiation Items
- Monthly lease ($). - Down payment.
- Utilities.
- Fees (e.g., parking, pets, garbage, and so on)
6. Lease Signing
When both parties sign the lease it becomes lawfully binding till completion of its term. The most common methods to sign are in-person or electronically.
Required at Lease Signing
- First month's lease. - Down payment.
- Identification
7. Taking Occupancy
After signing the lease and making preliminary payments, the tenant ought to be admitted to the residential or commercial property at the start of the lease term. Generally, a renter can stagnate into the residential or commercial property unless they have made an extra payment.
Inspecting the Residential or commercial property
To protect the down payment, it is recommended that the occupant complete a move-in assessment type and keep in mind any existing residential or commercial property damage. In 2023, just 42% of tenants said they got completely refunded on their security deposit. [7]
8. End of Tenancy
The property manager will notify the tenant of their objective to renew or terminate the lease in between 30 and 90 days before the end of the occupancy. If the proprietor ends the lease, the tenant's down payment will be returned after move-out.
Landlord's Options
Renew the Lease - By sending out a Lease Extension. Terminate the Lease - By sending a Non-Renewal Lease Letter. Landlord-Tenant Laws
Security Deposit Laws. Expand Collapse. State Maximum ($). 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, other than for systems renting for more than $2,000 14 days if the tenant leaves on-time, thirty days if not § 34.03.070( a), § 34.03.070( g). Arizona 1.5 months' lease 2 week from move-out inspection (excl. weekends and vacations) § 33-1321. Arkansas 2 months' rent 60 days from termination of occupancy § 18-16-304, § 18-16-305. California 1 month's rent 21 days from the move-out date 1950.5. Colorado 2 months' lease (omitting pet deposits) 1 month if mentioned 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 more youthful 21 days from the move-out date or 15 days from receiving the tenant's brand-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 deductions, 15 days if no deductions § 83.49( 3 )( a). Georgia 2 months' lease 30 days from the termination date § 44-7-30.1
§ 44-7-34. Hawaii 1 month's rent (omitting animal charge) 14 days from the termination date § 521-44. Idaho No limitation thirty days if mentioned in the lease, 21 days if not § 6-321. Illinois No limitation one month if deductions, 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 tenant has left § 562A.12. Kansas 1 month's rent (unfurnished), 1.5 months' lease (provided) 2 week after making deductions or thirty days from the termination date § 58-2550. Kentucky No limitation 60 days from the lease termination date § 383.580( 6 ). Louisiana No limit 1 month from the termination date Revised Statute 9:3251. Maine 2 months' rent one month if the lease is fixed-period, 21 days if tenancy-at-will § 6032, § 6033. Maryland 1 month's lease 45 days from the termination date § 8-203. Massachusetts 1 month's lease one month after the tenant has left Chapter 186, Section 15B. Michigan 1.5 months' lease 30 days from the end of occupancy § 554.602, § 554.609. Minnesota No limit 3 weeks from the termination date § 504B.178. Mississippi No limit 45 days from the end of tenancy § 89-8-21. Missouri 2 months' rent thirty days from the termination of tenancy § 535.300. Montana No limitation 1 month if deductions, 10 days if no deductions § 70-25-202. Nebraska 1 month's lease (omitting family pet cost) 14 days of move-out § 76-1416. Nevada 3 months' lease 30 days from the end of occupancy NRS 118A.242. New Hampshire 1 month's lease or $100, whichever is greater one month, 20 days if the residential or commercial property is shared with the landlord RSA 540-A:6, RSA 540-A:7. New Jersey 1.5 months' rent 1 month from the termination date § 46:8 -21.2, § 46:8 -21.1. New Mexico 1 month's rent for leases under one year. No limitation for property leases of one year or more 1 month from the termination date § 47-8-18. New York 1 month's lease unless the deposit or advance is for a seasonal usage house unit 14 days after the renter has actually left Emergency Tenant Protection Act 576/74( f), § 7-108 (e). North Carolina 2 months' rent for occupancies of more than 2 months
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