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By Type (15 )

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. households 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 (on average) is spent on rent. [4]
  1. Tenant Views the Space
  
  The tenant's first action in the leasing process is seeing the area. This is frequently after viewing photos of the residential or commercial property on a website where it was listed.
  
  Renting Trends (2023 )
  
  91% of tenants utilize a site or mobile app when searching, and 19% obtain housing without requiring an in-person tour. [5]
  2. Obtain a Rental Application
  
  Before an offer is accepted, the proprietor generally demands a renter to finish a rental application and pay a small charge (view maximum fees by state). The most typical cost was $50 in 2023. [6]
  Applicant Details
  
  - Applicant's name & address
• Employment details
• Income verification
• Previous property owners
• Consent (to run a credit check)
  
  3. Screen the Applicant
  
  Use the rental application to run a customer report. This consists of running a credit report and searching public records (expulsion search, background check, etc).
  
  Recommended Services
  
  - Limited ($ 21) - RentPrep.com
• Detailed ($ 40) - MySmartMove.com
  
  4. Verify References
  
  The candidate's company and previous landlords 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 rent paid on time during the occupancy?
• Did the tenant 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 tenant again?
  
  5. Negotiate the Lease
  
  Once a renter is approved, the parties will start negotiating the rental terms. If the tenant is a creditworthy individual, they may be able to get a better offer due to their monetary status.
  
  Negotiation Items
  
  - Monthly rent ($).
• Security deposit.
• Utilities.
• Fees (e.g., parking, animals, trash, and so on)
  
  6. Lease Signing
  
  When both parties sign the lease it becomes legally binding till the end of its term. The most common methods to sign are in-person or digitally.
  
  Required at Lease Signing
  
  - First month's lease.
• Security deposit.
• Identification
  
  7. Taking Occupancy
  
  After signing the lease and making payments, the renter ought 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 protect the down payment, it is recommended that the renter complete a move-in inspection type and keep in mind any existing residential or commercial property damage. In 2023, only 42% of occupants said they got completely reimbursed on their security deposit. [7]
  8. End of Tenancy
  
  The property owner will inform the tenant of their intention to restore or end the lease between 30 and 90 days before the end of the tenancy. If the property owner terminates 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 out a Non-Renewal Lease Letter. Landlord-Tenant Laws
  
  Down Payment 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 systems renting for more than $2,000 14 days if the renter 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 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' rent (excluding pet 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 one month if reductions, 15 days if no reductions § 83.49( 3 )( a). Georgia 2 months' lease 1 month from the termination date § 44-7-30.1
  
  § 44-7-34. Hawaii 1 month's lease (excluding pet cost) 2 week from the termination date § 521-44. Idaho No limitation 1 month if mentioned 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 abandoned § 562A.12. Kansas 1 month's rent (unfurnished), 1.5 months' rent (provided) 2 week after making deductions or 30 days 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 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 30 days after the tenant has actually vacated Chapter 186, Section 15B. Michigan 1.5 months' rent 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 completion of tenancy § 89-8-21. Missouri 2 months' rent 1 month from the termination of tenancy § 535.300. Montana No limit 30 days if deductions, 10 days if no deductions § 70-25-202. Nebraska 1 month's lease (leaving out animal fee) 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 rent or $100, whichever is higher 30 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' lease one 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 limit for residential leases of one year or more 1 month from the termination date § 47-8-18. New york city 1 month's rent unless the deposit or advance is for a seasonal use home system 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; 1.5 months' rent for month-to-month tenancies 1 month if no reductions, if deductions then an additional one month § 42-51, § 42-52. North Dakota 1 month's lease (omitting pet deposits) 30 days from the termination date § 47-16-07.1. Ohio No limit thirty days from the termination date § 5321.16. Oklahoma No limit 45 days from the termination date § 41-115( B). Oregon No limit 31 days from the termination date § 90.300. Pennsylvania 2 months' rent 1 month from the termination date § 250.511 a, § 250.512. Rhode Island 1 month's rent 20 days from the termination date § 34-18-19. South Carolina No limit 1 month from the termination date § 27-40-410. South Dakota 1 month's lease 2 week if no deductions, 45 days if deductions § 43-32-6.1, § 43-32-24. Tennessee No limitation 30 days from the termination date § 66-28-301. Texas No limitation one month after the tenant has abandoned § 92.103. Utah No limitation thirty days from the termination date § 57-17-3. Vermont No limit 14 days, 60 days if a seasonal residential or commercial property § 4461. Virginia 2 months' rent 45 days from the termination date or the date the occupant vacates the house unit, whichever happens last § 55.1-1226( A). Washington No limit one month from occupant's move-out date § 59.18.280. West Virginia No limit 60 days after occupancy ends or 45 days after another tenant moves in, whichever shorter § 37-6A-2. Wisconsin No limitation 21 days from renter's vacancy date § 134.06. Wyoming No limit 30 days from lease termination or 15 days from getting the renter's forwarding address, whichever is lesser § 1-21-1208( A)
  
  Landlord's Access. Expand Collapse. State Required Notice Statute. Alabama 2 days § 35-9A-303. Alaska 24 hours § 34.03.140. Arizona 2 days § 33-1343. Arkansas N/A N/A. California 24 for non-emergency, two days for the move-out examination § 1954. Colorado * N/A * N/A. Connecticut Reasonable notification § 47a-16. Delaware 2 days Title 25 § 5509. Florida 24 hr § 83.53. Georgia * N/A * N/A. Hawaii 2 days § 521-53. Idaho * N/A * N/A. Illinois * N/A * N/A. Indiana Reasonable notice § 32-31-5-6. Iowa 24 hours § 562A.19. Kansas Reasonable notification § 58-2557. Kentucky 2 days § 383.615. Louisiana * N/A * N/A. Maine 24 hours § 6025. Maryland * N/A * N/A. Massachusetts Reasonable notification Sanitary Code (410.810 ). Michigan * N/A * N/A. Minnesota "Reasonable notice" of no less than 24 hr § 504B.211. Mississippi * N/A * N/A. Missouri * N/A * N/A. Montana 24 hr § 70-24-312. Nebraska 24 hours § 76-1423. Nevada 24 hours NRS 118A.330. New Hampshire Reasonable notification RSA 540-A:3. New Jersey 1 day § 5:10 -5. 1 New Mexico 24 hours § 47-8-24 New York City * N/A * N/A. North Carolina * N/A * N/A. North Dakota Reasonable notice § 47-16-07.3. Ohio 24 hours § 5321.04. Oklahoma 1 day § 41-128. Oregon 24 hours § 90.322. Pennsylvania * N/A * N/A. Rhode Island 2 days § 34-18-26. South Carolina 24 hours § 27-40-530. South Dakota 24 hours § 43-32-32. Tennessee 24 hr § 66-28-403. Texas * N/A * N/A. Utah 24 hours § 57-22-4. Vermont two days § 4460. Virginia 24 hr § 55.1-1229( A). Washington 2 days for repairs, 1 day for provings § 59.18.150. West Virginia * N/A * N/A. Wisconsin Advance Notice § 704.05( 2 ). Wyoming * N/A * N/A
  
  Collapse
  
  When is Rent Due? (grace periods). Expand Collapse. State When is Rent Due? Laws. Alabama On the due date (no grace duration) § 35-9A-161( c). Alaska On the due date (no grace duration) AS 34.03.020( c). Arizona On the due date (no grace period) ARS 33-1314( c). Arkansas On the due date in the lease, however there is a 5-day grace duration before a late charge might be enforced § 18-17-401( b)( 1 ), § 18-17-701( b). California On the due date (no grace duration) CIV Code 1947. Colorado Not defined, but there is a 7-day grace duration before a late fee may be imposed C.R.S. § 38-12-105. Connecticut 9-day grace period. § 47a-3a( a), § 47a-15a. Delaware On the due date in the lease, however there is a 5-day grace duration before a late cost may be enforced Title 25, § 5501( b), Title 25, § 5501( d). Florida On the due date (no grace duration) § 83.46( 1 ). Georgia Not specified No statute. Hawaii On the due date (no grace duration) § 521-21( b). Idaho Not specified No statute. Illinois Not defined No statute. Indiana Not defined No statute. Iowa On the due date (no grace duration) 562A.9( 3 ). Kansas On the due date (no grace duration) § 58-2545( c). Kentucky On the due date (no grace period) § 383.565( 2 ). Louisiana On the due date (no grace duration) La. Civ. Code art. 2703( 1 ). Maine 15-day grace duration Chapter 710, § 6028( 1 ). Maryland On the due date (no grace period) § 8-401( a). Massachusetts 30-day grace duration. Chapter 186, Section 15B( 1 )( c). Michigan On the due date (no grace duration) § 554.131. Minnesota Not specified No statute. Mississippi Not defined No statute. Missouri On the due date (no grace duration) Rev. § 535.060. Montana On the due date (no grace period) § 70-24-201( 2 )( c). Nebraska On the due date (no grace duration) § 76-1414( 3 ). Nevada On the due date (no grace period) NRS 118A.210( 1 ). New Hampshire Not defined No statute. New Jersey 5 organization day grace duration § 2A:42 -6.1( 1 ). New Mexico On the due date (no grace duration) § 47-8-15( B). New York 5-day grace duration Housing Stability and Tenant Protection act of 2019. North Carolina 4-day grace period § 42-46( a). North Dakota Not defined No statute. Ohio Not defined No statute. Oklahoma On the due date (no grace duration) § 41-109( B). Oregon On the due date in the lease, however there is a 4-day grace period before a late charge may be imposed § ORS 90.220( 7 )( a), ORS 90.260( 1 )( a)
  
  Ga. Code § 44-7-16
  
  Chicago only - $10.00 per month for the very first $500.00 in monthly lease plus five percent per month for any quantity in excess of $500.00 in month-to-month lease for the late payment of rent. No statute
  
  5-12-140( h). Indiana Not defined No statute. Iowa If the rent does not go beyond $700/month, the late charge can not go beyond more than $12/day each day or $60/month.
  
  If the lease is greater than $700/month, the late can not exceed more than $20/day or $100/month. 562A.9( 4 ). Kansas Not defined No statute. Kentucky Not specified No statute. Louisiana Not specified No statute. Maine 4% of the regular monthly rent quantity Chapter 710, § 6028( 2 ). Maryland 5% of the month-to-month rent amount Md.
  Code, Real.