Rental Lease Agreement Template

Washington D.C. West Virginia Wisconsin Wyoming
dover.gov.uk
By Type (15 )

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. families are renters (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 (typically) is invested in lease. [4]
1. Tenant Views the Space

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

Renting Trends (2023 )

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

Before a deal is accepted, the property manager normally requests a renter to finish a rental application and pay a small fee (view maximum charges by state). The most common charge 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 includes running a credit report and searching 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 company and previous proprietors ought to be contacted. This uses 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 during the tenancy?
Did the renter break 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 begin working out the rental terms. If the renter is a creditworthy person, they may be able to get a much better deal due to their monetary status.

Negotiation Items

- Monthly lease ($).
Down payment.
Utilities.
Fees (e.g., parking, animals, garbage, etc)

6. Lease Signing

When both parties sign the lease it becomes lawfully binding till the end of its term. The most common ways 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 needs to 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 made an additional payment.

Inspecting the Residential or commercial property

To safeguard the down payment, it is advised that the occupant finish a move-in examination form and keep in mind any existing residential or commercial property damage. In 2023, only 42% of occupants stated they got completely refunded on their down payment. [7]
8. End of Tenancy

The property owner will inform the renter of their intention to renew or terminate the lease in between 30 and 90 days before completion of the tenancy. If the proprietor ends the lease, the occupant'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 delivery of ownership § 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 occupant leaves on-time, thirty days if not § 34.03.070( a), § 34.03.070( g). Arizona 1.5 2 week from move-out inspection (excl. weekends and holidays) § 33-1321. Arkansas 2 months' rent 60 days from termination of tenancy § 18-16-304, § 18-16-305. California 1 month's rent 21 days from the move-out date 1950.5. Colorado 2 months' rent (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' lease if younger 21 days from the move-out date or 15 days from receiving 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 limitation 1 month if deductions, 15 days if no reductions § 83.49( 3 )( a). Georgia 2 months' rent thirty days from the termination date § 44-7-30.1

§ 44-7-34. Hawaii 1 month's rent (excluding animal cost) 14 days from the termination date § 521-44. Idaho No limitation 1 month if stated in the lease, 21 days if not § 6-321. Illinois No limit thirty days 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 30 days after the renter has abandoned § 562A.12. Kansas 1 month's lease (unfurnished), 1.5 months' lease (provided) 2 week after making reductions or 1 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' rent one 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 lease one month after the tenant has left Chapter 186, Section 15B. Michigan 1.5 months' rent thirty days from completion of occupancy § 554.602, § 554.609. Minnesota No limit 3 weeks from the termination date § 504B.178. Mississippi No limit 45 days from completion of occupancy § 89-8-21. Missouri 2 months' rent 1 month from the termination of occupancy § 535.300. Montana No limitation 1 month if reductions, 10 days if no reductions § 70-25-202. Nebraska 1 month's lease (excluding animal charge) 2 week of move-out § 76-1416. Nevada 3 months' rent 1 month from the end of tenancy NRS 118A.242. New Hampshire 1 month's lease 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' lease 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 limitation for property leases of one year or more thirty days from the termination date § 47-8-18. New york city 1 month's rent unless the deposit or advance is for a seasonal use residence unit 14 days after the occupant has vacated Emergency Tenant Protection Act 576/74( f), § 7-108 (e). North Carolina 2 months' lease for tenancies of more than 2 months