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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)

Weekly

The Leasing Process (8 actions)

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 a tenant's income (typically) is invested in rent. [4]

1. Tenant Views the Space

The renter's primary step in the leasing procedure is viewing the area. This is frequently after viewing photos of the residential or commercial property on a site where it was noted.

Renting Trends (2023 )

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

2. Obtain a Rental Application

Before a deal is accepted, the landlord usually demands an occupant to complete a rental application and pay a small fee (view maximum costs by state). The most typical fee 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 consumer report. This consists of running a credit report and browsing public records (eviction search, background check, and so on).

Recommended Services

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

4. Verify References

The applicant's employer and previous property owners must be called. This offers insight into the applicant'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 break 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 occupant again?

5. Negotiate the Lease

Once a renter is approved, the celebrations will begin negotiating the rental terms. If the occupant is a creditworthy person, they might 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, garbage, etc)

6. Lease Signing

When both celebrations sign the lease it becomes lawfully binding up until the end of its term. The most common methods to sign are in-person or digitally.

Required at Lease Signing

- First month's rent.
- Down payment.
- Identification

7. Taking Occupancy

After signing the lease and making preliminary payments, the renter needs to be admitted to the residential or commercial property at the start of the lease term. Generally, an occupant can not move into the residential or commercial property unless they have actually made an additional payment.

Inspecting the Residential or commercial property

To safeguard the security deposit, it is recommended that the tenant complete a move-in examination form and note any existing residential or commercial property damage. In 2023, only 42% of occupants said they got totally reimbursed on their down payment. [7]

8. End of Tenancy

The property manager will notify the renter of their intention to renew or end the lease in between 30 and 90 days before completion of the tenancy. If the proprietor ends the lease, the tenant's security deposit 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' 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 14 days from move-out inspection (excl. weekends and holidays) § 33-1321.
Arkansas 2 months' lease 60 days from termination of tenancy § 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 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' 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 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 limit 1 month 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 lease (leaving out family pet cost) 14 days from the termination date § 521-44.
Idaho No limitation 1 month if stated in the lease, 21 days if not § 6-321.
Illinois No limitation 1 month if reductions, 45 days if no reductions 765 ILCS 710.
Indiana No limit 45 days from the termination date § 32-31-3-12.
Iowa 2 months' lease one month after the tenant has actually vacated § 562A.12.
Kansas 1 month's rent (unfurnished), 1.5 months' lease (furnished) 2 week after making reductions 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' lease 30 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 occupant has abandoned Chapter 186, Section 15B.
Michigan 1.5 months' lease thirty days from completion of occupancy § 554.602, § 554.609.
Minnesota No limitation 3 weeks from the termination date § 504B.178.
Mississippi No limit 45 days from the end of occupancy § 89-8-21.
Missouri 2 months' rent thirty days from the termination of occupancy § 535.300.
Montana No limit thirty days if reductions, 10 days if no reductions § 70-25-202.
Nebraska 1 month's rent (leaving out family pet charge) 14 days of move-out § 76-1416.
Nevada 3 months' rent one month from the end of tenancy NRS 118A.242.
New Hampshire 1 month's lease or $100, whichever is greater one month, 20 days if the residential or commercial property is shared with 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 domestic leases of one year or more one month from the termination date § 47-8-18.
New york city 1 month's lease unless the deposit or advance is for a seasonal use residence system 2 week after the renter has actually vacated Emergency Tenant Protection Act 576/74( f), § 7-108 (e).
North Carolina 2 months' lease for occupancies of more than 2 months; 1.5 months' lease for month-to-month occupancies thirty days if no reductions, if deductions then an additional thirty days § 42-51, § 42-52.
North Dakota 1 month's rent (excluding family pet deposits) one month from the termination date § 47-16-07.1.
Ohio No limit 1 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' lease 1 month 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 thirty 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 thirty days from the termination date § 66-28-301.
Texas No limitation 30 days after the occupant has vacated § 92.103.
Utah No limitation 1 month 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 occupant vacates the dwelling system, whichever occurs last § 55.1-1226( A).
Washington No limit 30 days from tenant's move-out date § 59.18.280.
West Virginia No limit 60 days after tenancy ends or 45 days after another occupant relocates, whichever much shorter § 37-6A-2.
Wisconsin No limitation 21 days from occupant's vacancy date § 134.06.
Wyoming No limitation 30 days from lease termination or 15 days from receiving the tenant's forwarding address, whichever is lower § 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 48 hours § 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 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 hours § 562A.19.
Kansas Reasonable notice § 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 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 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 two days § 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 periods).
Expand Collapse.
State When is Rent Due? Laws.
Alabama On the due date (no grace period) § 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 duration before a late cost might 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 fee 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, but there is a 5-day grace period before a late fee may be imposed 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 period) § 521-21( b).
Idaho Not specified No statute.
Illinois Not specified 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 period) § 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 period Chapter 710, § 6028( 1 ).
Maryland On the due date (no grace duration) § 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 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 specified No statute.
New Jersey 5 organization day grace duration § 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 defined 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 period before a late cost might 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 regular monthly lease plus five percent per month for any quantity in excess of $500.00 in monthly rent for the late payment of rent. No statute

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

If the lease is greater than $700/month, the late can not go beyond more than $20/day or $100/month. 562A.9( 4 ).
Kansas Not specified 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 month-to-month rent amount Md.