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By Type (15 )

Standard Lease

1-Page

Commercial

Condominium

Equipment

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Hunting (Land)

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Parking Space

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Roommate

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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 a renter's earnings (on average) is spent on rent. [4]

1. Tenant Views the Space

The occupant's very first step in the leasing procedure is viewing the area. This is typically after viewing pictures of the residential or commercial property on a site where it was listed.

Renting Trends (2023 )

91% of renters utilize a site or mobile app when searching, and 19% request housing without needing an in-person tour. [5]

2. Obtain a Rental Application

Before an offer is accepted, the landlord normally demands an occupant to finish a rental application and pay a little cost (view optimum costs by state). The most common charge 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 customer report. This consists of running a credit report and browsing 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 landlords must be gotten in touch with. This offers insight into the applicant's character and if they pay their lease on time.

Questions to Ask a Previous Landlord

- Was rent paid on time during 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 occupant once again?

5. Negotiate the Lease

Once a renter is authorized, the parties will begin working out the rental terms. If the tenant is a creditworthy individual, they may have the ability to get a better deal due to their financial status.

Negotiation Items

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

6. Lease Signing

When both parties sign the lease it ends up being lawfully binding up until the end of its term. The most typical 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 initial payments, the renter must be admitted to the residential or commercial property at the start of the lease term. Generally, a renter can not move into the residential or commercial property unless they have made an additional payment.

Inspecting the Residential or commercial property

To secure the down payment, it is recommended that the renter complete a move-in inspection kind and note any existing residential or commercial property damage. In 2023, just 42% of renters said they got totally reimbursed on their security deposit. [7]

8. End of Tenancy

The property owner will inform the renter of their intention to restore or terminate the lease in between 30 and 90 days before completion 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 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 belongings § 35-9A-201( a), 35-9A-201( b).
Alaska 2 months' rent, other than for systems leasing for more than $2,000 2 week if the renter leaves on-time, 1 month if not § 34.03.070( a), § 34.03.070( g).
Arizona 1.5 months' rent 14 days from move-out evaluation (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' lease (excluding family pet deposits) 1 month if discussed 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 renter's brand-new address § 47a-21.
Delaware 1 month's lease for leases of one year or more. No limitation on all others types 20 days from the termination date Title 25 § 5514.
Florida No limit one month 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 (excluding family pet charge) 2 week from the termination date § 521-44.
Idaho No limit 1 month if mentioned in the lease, 21 days if not § 6-321.
Illinois No limitation 30 days if reductions, 45 days if no deductions 765 ILCS 710.
Indiana No limit 45 days from the termination date § 32-31-3-12.
Iowa 2 months' rent one month after the renter has vacated § 562A.12.
Kansas 1 month's rent (unfurnished), 1.5 months' lease (furnished) 14 days after making deductions 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' lease 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 left Chapter 186, Section 15B.
Michigan 1.5 months' rent one month from completion of tenancy § 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 30 days from the termination of occupancy § 535.300.
Montana No limitation one month if reductions, 10 days if no deductions § 70-25-202.
Nebraska 1 month's lease (leaving out family pet cost) 14 days of move-out § 76-1416.
Nevada 3 months' rent thirty days from the end of occupancy NRS 118A.242.
New Hampshire 1 month's rent or $100, whichever is greater 1 month, 20 days if the residential or commercial property is shown the proprietor RSA 540-A:6, RSA 540-A:7.
New Jersey 1.5 months' lease thirty days 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 residential leases of one year or more thirty days from the termination date § 47-8-18.
New York 1 month's lease unless the deposit or advance is for a seasonal usage home unit 14 days after the occupant 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' lease for month-to-month occupancies 1 month if no deductions, if reductions then an extra one month § 42-51, § 42-52.
North Dakota 1 month's lease (excluding animal deposits) 1 month from the termination date § 47-16-07.1.
Ohio No limit one month from the termination date § 5321.16.
Oklahoma No limitation 45 days from the termination date § 41-115( B).
Oregon No limit 31 days from the termination date § 90.300.
Pennsylvania 2 months' rent 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 limitation 1 month from the termination date § 27-40-410.
South Dakota 1 month's rent 14 days if no reductions, 45 days if reductions § 43-32-6.1, § 43-32-24.
Tennessee No limitation 30 days from the termination date § 66-28-301.
Texas No limitation 1 month after the renter has actually vacated § 92.103.
Utah No limitation 30 days from the termination date § 57-17-3.
Vermont No limitation 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 renter leaves the residence unit, whichever takes place last § 55.1-1226( A).
Washington No limitation thirty days from occupant's move-out date § 59.18.280.
West Virginia No limit 60 days after occupancy ends or 45 days after another occupant relocates, whichever shorter § 37-6A-2.
Wisconsin No limit 21 days from renter's job date § 134.06.
Wyoming No limitation one month from lease termination or 15 days from receiving the tenant's forwarding address, whichever is lesser § 1-21-1208( A)

Landlord's Access.
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State Required Notice Statute.
Alabama 2 days § 35-9A-303.
Alaska 24 hr § 34.03.140.
Arizona two days § 33-1343.
Arkansas N/A N/A.
California 24 for non-emergency, 48 hours for the move-out assessment § 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 notification § 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 hr § 6025.
Maryland * N/A * N/A.
Massachusetts Reasonable notification Sanitary Code (410.810 ).
Michigan * N/A * N/A.
Minnesota "Reasonable notification" 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 hours § 76-1423.
Nevada 24 hr 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 City * N/A * N/A.
North Carolina * N/A * N/A.
North Dakota Reasonable notification § 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 hr § 27-40-530.
South Dakota 24 hours § 43-32-32.
Tennessee 24 hours § 66-28-403.
Texas * N/A * N/A.
Utah 24 hr § 57-22-4.
Vermont 48 hours § 4460.
Virginia 24 hours § 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 durations).
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, but there is a 5-day grace period before a late fee may be enforced § 18-17-401( b)( 1 ), § 18-17-701( b).
California On the due date (no grace duration) CIV Code 1947.
Colorado Not specified, however there is a 7-day grace period before a late cost may be enforced C.R.S. § 38-12-105.
Connecticut 9-day grace duration. § 47a-3a( a), § 47a-15a.
Delaware On the due date in the lease, however there is a 5-day grace duration before a late fee might be imposed 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 period) § 521-21( b).
Idaho Not specified No statute.
Illinois Not defined No statute.
Indiana Not specified No statute.
Iowa On the due date (no grace period) 562A.9( 3 ).
Kansas On the due date (no grace duration) § 58-2545( c).
Kentucky On the due date (no grace duration) § 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 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 period) § 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 company day grace duration § 2A:42 -6.1( 1 ).
New Mexico On the due date (no grace duration) § 47-8-15( B).
New york city 5-day grace period Housing Stability and Tenant Protection act of 2019.
North Carolina 4-day grace period § 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, however there is a 4-day grace duration before a late charge 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 first $500.00 in month-to-month rent plus five percent monthly for any amount in excess of $500.00 in month-to-month lease for the late payment of lease. No statute

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

If the rent is higher 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 defined No statute.
Maine 4% of the regular monthly lease amount Chapter 710, § 6028( 2 ).
Maryland 5% of the monthly rent quantity Md.