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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 steps)

Housing Statistics

- 33.6% of U.S. families are occupants (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 earnings (usually) is spent on lease. [4]
  1. Tenant Views the Space
  
  The renter's initial step in the leasing procedure is viewing the area. This is typically after viewing images of the residential or commercial property on a website where it was noted.
  
  Renting Trends (2023 )
  
  91% of tenants use a website 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 property owner normally requests a tenant to complete a rental application and pay a little cost (view optimum charges by state). The most typical charge was $50 in 2023. [6]
  Applicant Details
  
  - Applicant's name & address
• Employment details
• Income verification
• Previous landlords
• 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 (eviction search, background check, etc).
  
  Recommended Services
  
  - Limited ($ 21) - RentPrep.com
• Detailed ($ 40) - MySmartMove.com
  
  4. Verify References
  
  The candidate's employer and previous landlords should be contacted. This provides insight into the candidate's character and if they pay their lease on time.
  
  Questions to Ask a Previous Landlord
  
  - Was lease paid on time throughout the tenancy?
• Did the occupant breach 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 again?
  
  5. Negotiate the Lease
  
  Once a renter is approved, the celebrations will begin negotiating the rental terms. If the tenant is a creditworthy person, they might have the ability to get a better deal due to their financial status.
  
  Negotiation Items
  
  - Monthly lease ($).
• Security deposit. - Utilities.
• Fees (e.g., parking, family pets, garbage, and so on)
  
  6. Lease Signing
  
  When both parties sign the lease it ends up being legally binding till 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 initial payments, the tenant ought to be offered access to the residential or commercial property at the start of the lease term. Generally, a tenant can not move 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 advised that the renter finish a move-in inspection form and note any existing residential or commercial property damage. In 2023, only 42% of tenants stated they got totally refunded on their down payment. [7]
  8. End of Tenancy
  
  The landlord will notify the occupant of their objective to restore or end the lease between 30 and 90 days before completion of the occupancy. If the landlord ends the lease, the occupant's down payment 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
  
  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, except for units renting for more than $2,000 2 week if the occupant leaves on-time, thirty days if not § 34.03.070( a), § 34.03.070( g). Arizona 1.5 months' lease 2 week 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 (leaving out 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 lease is 62 years or older, 2 months' rent if more youthful 21 days from the move-out date or 15 days from getting the tenant'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 1 month from the termination date § 44-7-30.1
  
  § 44-7-34. Hawaii 1 month's lease (omitting animal charge) 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 limit 30 days if reductions, 45 days if no deductions 765 ILCS 710. No limit 45 days from the termination date § 32-31-3-12. Iowa 2 months' lease 1 month after the renter has abandoned § 562A.12. Kansas 1 month's lease (unfurnished), 1.5 months' lease (supplied) 14 days 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 1 month 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 one month after the tenant has abandoned Chapter 186, Section 15B. Michigan 1.5 months' lease 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' lease thirty days from the termination of occupancy § 535.300. Montana No limit 30 days if reductions, 10 days if no reductions § 70-25-202. Nebraska 1 month's rent (excluding animal cost) 2 week of move-out § 76-1416. Nevada 3 months' rent 30 days from the end of tenancy NRS 118A.242. New Hampshire 1 month's rent or $100, whichever is higher one month, 20 days if the residential or commercial property is shown the landlord RSA 540-A:6, RSA 540-A:7. New Jersey 1.5 months' rent thirty 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 limit for residential leases of one year or more 1 month from the termination date § 47-8-18. New York 1 month's rent unless the deposit or advance is for a seasonal use residence unit 2 week after the renter has 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 one month if no reductions, if reductions then an additional 30 days § 42-51, § 42-52. North Dakota 1 month's lease (leaving out pet deposits) thirty days from the termination date § 47-16-07.1. Ohio No limitation 30 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' 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 1 month from the termination date § 27-40-410. South Dakota 1 month's lease 14 days 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 limit 30 days after the occupant has actually vacated § 92.103. Utah No limit 30 days 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 home system, whichever takes place last § 55.1-1226( A). Washington No limit one month from tenant's move-out date § 59.18.280. West Virginia No limitation 60 days after occupancy ends or 45 days after another occupant moves in, whichever much shorter § 37-6A-2. Wisconsin No limit 21 days from tenant's job date § 134.06. Wyoming No limitation 30 days from lease termination or 15 days from getting the occupant'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 48 hours § 33-1343. Arkansas N/A N/A. California 24 for non-emergency, two days for the move-out evaluation § 1954. Colorado * N/A * N/A. Connecticut Reasonable notification § 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 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 hours § 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 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 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 hours § 27-40-530. South Dakota 24 hr § 43-32-32. Tennessee 24 hr § 66-28-403. Texas * N/A * N/A. Utah 24 hours § 57-22-4. Vermont 48 hours § 4460. Virginia 24 hr § 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 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 period) 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 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 defined, but there is a 7-day grace period before a late cost 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 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 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 specified 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 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 specified 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 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 service day grace duration § 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 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 duration before a late fee might be enforced § ORS 90.220( 7 )( a), ORS 90.260( 1 )( a)
  
  Ga. Code § 44-7-16
  
  Chicago only - $10.00 monthly for the first $500.00 in regular monthly rent plus five percent per month for any quantity in excess of $500.00 in month-to-month lease 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 fee can not surpass more than $12/day per day or $60/month.
  
  If the rent is greater than $700/month, the late can not exceed 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 amount Chapter 710, § 6028( 2 ). Maryland 5% of the month-to-month lease quantity Md.
  Code, Real.