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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

Storage Space

Sublease

Vacation (short-term)

Weekly

The Leasing Process (8 actions)

Housing Statistics

- 33.6% of U.S. homes 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 income (typically) is invested in lease. [4]

1. Tenant Views the Space

The occupant's initial step in the leasing procedure is viewing the area. This is commonly after seeing photos 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% make an application for housing without needing an in-person tour. [5]

2. Obtain a Rental Application

Before a deal is accepted, the proprietor generally requests a tenant to complete a rental application and pay a little fee (view maximum costs by state). The most common charge was $50 in 2023. [6]

Applicant Details

- Applicant's name & address
- Employment information
- 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 includes running a credit report and searching public records (eviction 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 property owners must be contacted. This uses 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 throughout the tenancy?
- Did the renter breach 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 tenant is approved, the parties will begin working out the rental terms. If the occupant is a creditworthy person, they might have the ability to get a much better offer due to their financial status.

Negotiation Items

- Monthly lease ($).
- Security deposit.
- Utilities.
- Fees (e.g., parking, animals, trash, and so on)

6. Lease Signing

When both celebrations sign the lease it becomes legally binding 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.
- Security deposit.
- 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 tenant can stagnate into the residential or commercial property unless they have made an extra payment.

Inspecting the Residential or commercial property

To secure the security deposit, it is advised that the renter finish a move-in examination type and keep in mind any existing residential or commercial property damage. In 2023, just 42% of renters said they got completely reimbursed on their security deposit. [7]

8. End of Tenancy

The property manager will notify the tenant of their intention to restore or end the lease in between 30 and 90 days before completion of the tenancy. If the proprietor terminates the lease, the tenant'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 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, other than for units renting for more than $2,000 14 days if the tenant leaves on-time, one month if not § 34.03.070( a), § 34.03.070( g).
Arizona 1.5 months' lease 2 week from move-out evaluation (excl. weekends and vacations) § 33-1321.
Arkansas 2 months' lease 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 (excluding 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 getting the occupant's brand-new address § 47a-21.
Delaware 1 month's lease 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 deductions, 15 days if no deductions § 83.49( 3 )( a).
Georgia 2 months' lease thirty days from the termination date § 44-7-30.1

§ 44-7-34.
Hawaii 1 month's rent (leaving out animal fee) 14 days from the termination date § 521-44.
Idaho No limitation thirty days if specified in the lease, 21 days if not § 6-321.
Illinois No limit 1 month if deductions, 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 thirty days after the renter has abandoned § 562A.12.
Kansas 1 month's lease (unfurnished), 1.5 months' rent (provided) 2 week after making deductions or thirty 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' lease 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 rent thirty days after the tenant has actually abandoned Chapter 186, Section 15B.
Michigan 1.5 months' rent one month 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' lease 30 days from the termination of tenancy § 535.300.
Montana No limitation one month if reductions, 10 days if no reductions § 70-25-202.
Nebraska 1 month's rent (excluding family pet charge) 14 days of move-out § 76-1416.
Nevada 3 months' rent thirty days from completion of tenancy NRS 118A.242.
New Hampshire 1 month's lease or $100, whichever is higher thirty days, 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' rent 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 property leases of one year or more thirty days from the termination date § 47-8-18.
New York 1 month's rent unless the deposit or advance is for a seasonal usage house unit 2 week after the tenant has actually left Emergency Tenant Protection Act 576/74( f), § 7-108 (e).
North Carolina 2 months' lease for tenancies of more than 2 months; 1.5 months' lease for month-to-month occupancies 30 days if no reductions, if reductions then an extra one month § 42-51, § 42-52.
North Dakota 1 month's rent (leaving out family pet deposits) 30 days from the termination date § 47-16-07.1.
Ohio No limit 30 days 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 one 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 30 days from the termination date § 27-40-410.
South Dakota 1 month's lease 2 week if no reductions, 45 days if reductions § 43-32-6.1, § 43-32-24.
Tennessee No limit 1 month from the termination date § 66-28-301.
Texas No limitation thirty days after the renter has actually vacated § 92.103.
Utah No limit thirty 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' lease 45 days from the termination date or the date the tenant leaves the home unit, whichever happens last § 55.1-1226( A).
Washington No limitation thirty days from renter's move-out date § 59.18.280.
West Virginia No limitation 60 days after tenancy ends or 45 days after another tenant relocates, whichever much shorter § 37-6A-2.
Wisconsin No limit 21 days from renter's vacancy date § 134.06.
Wyoming No limitation 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 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 examination § 1954.
Colorado * N/A * N/A.
Connecticut Reasonable notice § 47a-16.
Delaware 48 hours 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 notice 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 hours § 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 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 hr § 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 hr § 57-22-4.
Vermont 2 days § 4460.
Virginia 24 hours § 55.1-1229( A).
Washington 2 days for repair work, 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 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 may be enforced § 18-17-401( b)( 1 ), § 18-17-701( b).
California On the due date (no grace period) CIV Code 1947.
Colorado Not defined, but there is a 7-day grace period 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, however there is a 5-day grace duration before a late charge may be enforced Title 25, § 5501( b), Title 25, § 5501( d).
Florida On the due date (no grace period) § 83.46( 1 ).
Georgia Not specified 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 defined 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 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 period) § 8-401( a).
Massachusetts 30-day grace period. Chapter 186, Section 15B( 1 )( c).
Michigan On the due date (no grace duration) § 554.131.
Minnesota Not defined 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 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 defined No statute.
New Jersey 5 service day grace period § 2A:42 -6.1( 1 ).
New Mexico On the due date (no grace period) § 47-8-15( B).
New york city 5-day grace period 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 defined 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 charge may be enforced § ORS 90.220( 7 )( a), ORS 90.260( 1 )( a)

Ga. Code § 44-7-16

Chicago just - $10.00 per month for the first $500.00 in monthly rent plus 5 percent per month for any quantity in excess of $500.00 in month-to-month rent for the late payment of lease. 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 surpass more than $12/day each day or $60/month.

If the lease is greater than $700/month, the late can not surpass more than $20/day or $100/month. 562A.9( 4 ).
Kansas Not defined No statute.
Kentucky Not defined No statute.
Louisiana Not defined No statute.
Maine 4% of the regular monthly rent quantity Chapter 710, § 6028( 2 ).
Maryland 5% of the regular monthly rent quantity Md.