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By Type (15 )

Standard Lease

1-Page

Commercial

Condominium

Equipment

Relative

Hunting (Land)

Month-to-Month

Parking Space

Rent-to-Own

Roommate

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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 a renter's income (typically) is invested on rent. [4]

1. Tenant Views the Space

The tenant's primary step in the leasing procedure is viewing the space. This is frequently after viewing photos of the residential or commercial property on a website where it was listed.

Renting Trends (2023 )

91% of occupants utilize a site or mobile app when searching, and 19% look for housing without needing an in-person trip. [5]

2. Obtain a Rental Application

Before an offer is accepted, the property manager usually demands an occupant to complete a rental application and pay a little cost (view maximum charges by state). The most common cost was $50 in 2023. [6]

Applicant Details

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

Recommended Services

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

4. Verify References

The applicant's company and previous property owners ought to 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 during the tenancy?
- Did the occupant violate 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 a renter is approved, the celebrations will begin working out the rental terms. If the renter is a creditworthy person, they may have the ability to get a better deal due to their monetary status.

Negotiation Items

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

6. Lease Signing

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

Required at Lease Signing

- First month's rent.
- Security deposit.
- Identification

7. Taking Occupancy

After signing the lease and making preliminary payments, the renter must 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 actually made an additional payment.

Inspecting the Residential or commercial property

To secure the security deposit, it is suggested 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 fully reimbursed on their down payment. [7]

8. End of Tenancy

The property manager will inform the tenant of their objective to restore or terminate the lease between 30 and 90 days before completion of the tenancy. If the property owner ends the lease, the occupant's security deposit will be returned after move-out.

Landlord's Options

Renew the Lease - By sending a Lease Extension.
Terminate the Lease - By sending 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 ownership § 35-9A-201( a), 35-9A-201( b).
Alaska 2 months' lease, except for units leasing for more than $2,000 14 days 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 inspection (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 (leaving out animal 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 lease is 62 years or older, 2 months' lease if younger 21 days from the move-out date or 15 days from getting the renter's 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 30 days 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 lease (leaving out pet charge) 14 days from the termination date § 521-44.
Idaho No limit 30 days if specified in the lease, 21 days if not § 6-321.
Illinois No limit 30 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' rent thirty days after the occupant has actually vacated § 562A.12.
Kansas 1 month's lease (unfurnished), 1.5 months' lease (provided) 14 days after making deductions or 30 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 thirty days 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 thirty days after the renter has left Chapter 186, Section 15B.
Michigan 1.5 months' lease 1 month 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 tenancy § 89-8-21.
Missouri 2 months' rent one month from the termination of occupancy § 535.300.
Montana No limit 1 month if deductions, 10 days if no reductions § 70-25-202.
Nebraska 1 month's lease (omitting family pet fee) 14 days of move-out § 76-1416.
Nevada 3 months' lease 30 days from the end of tenancy NRS 118A.242.
New Hampshire 1 month's rent or $100, whichever is greater one month, 20 days if the residential or commercial property is shown the property owner RSA 540-A:6, RSA 540-A:7.
New Jersey 1.5 months' lease 30 days 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 residential leases of one year or more thirty days from the termination date § 47-8-18.
New york city 1 month's lease unless the deposit or advance is for a seasonal usage residence 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 occupancies of more than 2 months; 1.5 months' rent for month-to-month tenancies 1 month if no reductions, if reductions then an additional 1 month § 42-51, § 42-52.
North Dakota 1 month's rent (leaving out family pet deposits) 1 month from the termination date § 47-16-07.1.
Ohio No limitation 1 month from the termination date § 5321.16.
Oklahoma No limitation 45 days from the termination date § 41-115( B).
Oregon No limitation 31 days from the termination date § 90.300.
Pennsylvania 2 months' lease 30 days from the termination date § 250.511 a, § 250.512.
Rhode Island 1 month's lease 20 days from the termination date § 34-18-19.
South Carolina No limit one month from the termination date § 27-40-410.
South Dakota 1 month's rent 14 days if no reductions, 45 days if deductions § 43-32-6.1, § 43-32-24.
Tennessee No limit 30 days from the termination date § 66-28-301.
Texas No limit thirty days after the renter has actually left § 92.103.
Utah No limit 1 month from the termination date § 57-17-3.
Vermont No limitation 2 week, 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 residence system, whichever happens last § 55.1-1226( A).
Washington No limit 30 days from renter's move-out date § 59.18.280.
West Virginia No limitation 60 days after occupancy ends or 45 days after another tenant moves in, whichever shorter § 37-6A-2.
Wisconsin No limit 21 days from occupant's job date § 134.06.
Wyoming No limitation 1 month from lease termination or 15 days from getting the tenant'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 two days § 33-1343.
Arkansas N/A N/A.
California 24 for non-emergency, 2 days for the move-out evaluation § 1954.
Colorado * N/A * N/A.
Connecticut Reasonable notice § 47a-16.
Delaware 2 days Title 25 § 5509.
Florida 24 hours § 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 hr § 562A.19.
Kansas Reasonable notice § 58-2557.
Kentucky 2 days § 383.615.
Louisiana * N/A * N/A.
Maine 24 hr § 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 hours § 70-24-312.
Nebraska 24 hr § 76-1423.
Nevada 24 hours NRS 118A.330.
New Hampshire Reasonable notice RSA 540-A:3.
New Jersey 1 day § 5:10 -5. 1
New Mexico 24 hr § 47-8-24
New York * N/A * N/A.
North Carolina * N/A * N/A.
North Dakota Reasonable notice § 47-16-07.3.
Ohio 24 hr § 5321.04.
Oklahoma 1 day § 41-128.
Oregon 24 hr § 90.322.
Pennsylvania * N/A * N/A.
Rhode Island 2 days § 34-18-26.
South Carolina 24 hours § 27-40-530.
South Dakota 24 hr § 43-32-32.
Tennessee 24 hr § 66-28-403.
Texas * N/A * N/A.
Utah 24 hr § 57-22-4.
Vermont 2 days § 4460.
Virginia 24 hr § 55.1-1229( A).
Washington 2 days for repair work, 1 day for showings § 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 duration) 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 imposed § 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 charge might be enforced C.R.S. § 38-12-105.
Connecticut 9-day grace period. § 47a-3a( a), § 47a-15a.
Delaware On the due date in the lease, but there is a 5-day grace duration before a late fee may be enforced Title 25, § 5501( b), Title 25, § 5501( d).
Florida On the due date (no grace duration) § 83.46( 1 ).
Georgia Not defined 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 period) § 58-2545( c).
Kentucky On the due date (no grace period) § 383.565( 2 ).
Louisiana On the due date (no grace period) La. Civ. Code art. 2703( 1 ).
Maine 15-day grace duration Chapter 710, § 6028( 1 ).
Maryland On the due date (no grace duration) § 8-401( a).
Massachusetts 30-day grace period. Chapter 186, Section 15B( 1 )( c).
Michigan On the due date (no grace period) § 554.131.
Minnesota Not specified No statute.
Mississippi Not specified No statute.
Missouri On the due date (no grace period) Rev. § 535.060.
Montana On the due date (no grace duration) § 70-24-201( 2 )( c).
Nebraska On the due date (no grace period) § 76-1414( 3 ).
Nevada On the due date (no grace duration) NRS 118A.210( 1 ).
New Hampshire Not specified No statute.
New Jersey 5 business day grace period § 2A:42 -6.1( 1 ).
New Mexico On the due date (no grace period) § 47-8-15( B).
New York 5-day grace duration Housing Stability and Tenant Protection act of 2019.
North Carolina 4-day grace duration § 42-46( a).
North Dakota Not specified No statute.
Ohio Not specified No statute.
Oklahoma On the due date (no grace period) § 41-109( B).
Oregon On the due date in the lease, but there is a 4-day grace duration before a late fee may be imposed § ORS 90.220( 7 )( a), ORS 90.260( 1 )( a)

Ga. Code § 44-7-16

Chicago just - $10.00 each month for the very first $500.00 in regular monthly lease plus 5 percent per month for any amount in excess of $500.00 in regular monthly rent for the late payment of rent. No statute

5-12-140( h).
Indiana Not specified No statute.
Iowa If the rent does not surpass $700/month, the late cost can not surpass more than $12/day each day or $60/month.

If the lease is higher than $700/month, the late can not surpass more than $20/day or $100/month. 562A.9( 4 ).
Kansas Not specified No statute.
Kentucky Not defined 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 lease amount Md.