Rental Lease Agreement Template

Washington D.C. West Virginia Wisconsin Wyoming

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)
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Weekly

The Leasing Process (8 steps)

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

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

Renting Trends (2023 )

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

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

- Applicant's name & address
Employment information
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 (eviction search, background check, etc).

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4. Verify References

The applicant's employer and previous landlords should be gotten in touch with. This uses insight into the candidate's character and if they pay their lease on time.

Questions to Ask a Previous Landlord

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

5. Negotiate the Lease

Once a tenant 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 deal due to their financial status.

Negotiation Items

- Monthly lease ($).
Security deposit.
Utilities.
Fees (e.g., parking, family pets, trash, etc)

6. Lease Signing

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

Required at Lease Signing

- First month's lease.
Security deposit.
Identification

7. Taking Occupancy

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

Inspecting the Residential or commercial property

To safeguard the security deposit, it is recommended that the occupant complete a move-in evaluation kind 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 property owner will notify the occupant of their intention to restore or terminate the lease between 30 and 90 days before completion of the tenancy. If the property manager 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 rent 60 days after the termination date and delivery of ownership § 35-9A-201( a), 35-9A-201( b). Alaska 2 months' lease, other than for units renting for more than $2,000 2 week if the tenant leaves on-time, 30 days if not § 34.03.070( a), § 34.03.070( g). Arizona 1.5 months' rent 2 week from move-out assessment (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 lease 21 days from the move-out date 1950.5. Colorado 2 months' lease (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 rent is 62 years or older, 2 months' rent if younger 21 days from the move-out date or 15 days from getting the renter'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 limitation 30 days if reductions, 15 days if no reductions § 83.49( 3 )( a). Georgia 2 months' lease one month from the termination date § 44-7-30.1

§ 44-7-34. Hawaii 1 month's lease (leaving out 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 thirty days 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 one month after the renter has actually vacated § 562A.12. Kansas 1 month's lease (unfurnished), 1.5 months' rent (furnished) 14 days after making reductions or thirty days 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 thirty days 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 rent 1 month after the renter has actually abandoned Chapter 186, Section 15B. Michigan 1.5 months' lease one month from completion of occupancy § 554.602, § 554.609. Minnesota No limitation 3 weeks from the termination date § 504B.178. Mississippi No limitation 45 days from completion of tenancy § 89-8-21. Missouri 2 months' rent thirty days from the termination of occupancy § 535.300. Montana No limit 1 month if deductions, 10 days if no deductions § 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 completion of occupancy NRS 118A.242. New Hampshire 1 month's lease or $100, whichever is greater thirty days, 20 days if the residential or commercial property is shared with the property owner 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 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 dwelling unit 2 week after the tenant has actually left Emergency Tenant Protection Act 576/74( f), § 7-108 (e). North Carolina 2 months' rent for tenancies of more than 2 months