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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 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 renter's income (on average) is invested in rent. [4]

1. Tenant Views the Space

The occupant's primary step in the leasing procedure is viewing the space. This is typically after seeing photos of the residential or commercial property on a website where it was noted.

Renting Trends (2023 )

91% of renters utilize a website or mobile app when searching, and 19% make an application for housing without requiring an in-person trip. [5]

2. Obtain a Rental Application

Before an offer is accepted, the property manager normally requests a renter to complete a rental application and pay a little fee (view maximum costs by state). The most typical cost was $50 in 2023. [6]

Applicant Details

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

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

4. Verify References

The candidate's company and previous property owners must be called. 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 during the tenancy?
- Did the occupant violate the lease?
- What was the reason for leaving the residential or commercial property?
- Existed damage made on the residential or commercial property?
- Would you re-rent to the renter once again?

5. Negotiate the Lease

Once an occupant is approved, the parties will start negotiating the rental terms. If the renter is a creditworthy individual, they may have the ability to get a much better offer due to their financial status.

Negotiation Items

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

6. Lease Signing

When both celebrations sign the lease it ends up being legally 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 lease.
- Down payment.
- Identification

7. Taking Occupancy

After signing the lease and making initial payments, the occupant must be provided access 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 made an additional payment.

Inspecting the Residential or commercial property

To secure the security deposit, it is recommended that the tenant complete a move-in inspection kind and keep in mind any existing residential or commercial property damage. In 2023, only 42% of renters stated they got completely refunded on their down payment. [7]

8. End of Tenancy

The property manager will inform the tenant of their intent to restore or terminate the lease in between 30 and 90 days before the end of the occupancy. If the landlord ends the lease, the tenant'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 out a Non-Renewal Lease Letter.
Landlord-Tenant Laws

Security Deposit 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, except for systems renting for more than $2,000 2 week if the renter 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 evaluation (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 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' rent if younger 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 limit on all others types 20 days from the termination date Title 25 § 5514.
Florida No limit thirty days if deductions, 15 days if no deductions § 83.49( 3 )( a).
Georgia 2 months' lease 30 days from the termination date § 44-7-30.1

§ 44-7-34.
Hawaii 1 month's lease (omitting pet cost) 14 days from the termination date § 521-44.
Idaho No limitation 1 month 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' lease one month after the renter has actually vacated § 562A.12.
Kansas 1 month's lease (unfurnished), 1.5 months' rent (provided) 14 days after making reductions or one 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 1 month 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 30 days after the renter has actually abandoned Chapter 186, Section 15B.
Michigan 1.5 months' rent 1 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 the end of occupancy § 89-8-21.
Missouri 2 months' lease thirty days from the termination of occupancy § 535.300.
Montana No limit thirty days if deductions, 10 days if no deductions § 70-25-202.
Nebraska 1 month's rent (omitting family pet charge) 2 week of move-out § 76-1416.
Nevada 3 months' lease one month from completion of occupancy NRS 118A.242.
New Hampshire 1 month's rent or $100, whichever is higher 1 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' 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 limitation for residential leases of one year or more 30 days from the termination date § 47-8-18.
New York 1 month's rent unless the deposit or advance is for a seasonal usage dwelling unit 14 days after the occupant has actually abandoned 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 one month if no reductions, if reductions then an additional one month § 42-51, § 42-52.
North Dakota 1 month's lease (omitting animal deposits) thirty 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 1 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 1 month from the termination date § 27-40-410.
South Dakota 1 month's rent 2 week if no deductions, 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 occupant has actually vacated § 92.103.
Utah No limitation 30 days from the termination date § 57-17-3.
Vermont No limit 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 occupant leaves the house unit, whichever happens last § 55.1-1226( A).
Washington No limit 30 days from occupant'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 shorter § 37-6A-2.
Wisconsin No limit 21 days from renter's vacancy date § 134.06.
Wyoming No limit 1 month from lease termination or 15 days from getting the occupant'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 hr § 34.03.140.
Arizona 2 days § 33-1343.
Arkansas N/A N/A.
California 24 for non-emergency, two days for the move-out inspection § 1954.
Colorado * N/A * N/A.
Connecticut Reasonable notice § 47a-16.
Delaware 2 days 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 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 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 hr § 70-24-312.
Nebraska 24 hr § 76-1423.
Nevada 24 hr NRS 118A.330.
New Hampshire Reasonable notification RSA 540-A:3.
New Jersey 1 day § 5:10 -5. 1
New Mexico 24 hours § 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 hours § 90.322.
Pennsylvania * N/A * N/A.
Rhode Island 2 days § 34-18-26.
South Carolina 24 hr § 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 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 durations).
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 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, but there is a 5-day grace period before a late charge may be imposed § 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 duration 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 duration before a late cost might 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 specified 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 period 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 period) § 554.131.
Minnesota Not defined 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 defined No statute.
New Jersey 5 company day grace period § 2A:42 -6.1( 1 ).
New Mexico On the due date (no grace duration) § 47-8-15( B).
New York 5-day grace period Housing Stability and Tenant Protection act of 2019.
North Carolina 4-day grace period § 42-46( a).
North Dakota Not defined 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 period before a late fee might be imposed § ORS 90.220( 7 )( a), ORS 90.260( 1 )( a)

Ga. Code § 44-7-16

Chicago only - $10.00 each month for the first $500.00 in monthly lease plus 5 percent each month for any amount in excess of $500.00 in regular monthly rent 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 cost can not exceed more than $12/day per day or $60/month.

If the rent is higher 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 specified No statute.
Louisiana Not specified No statute.
Maine 4% of the regular monthly lease quantity Chapter 710, § 6028( 2 ).
Maryland 5% of the regular monthly rent amount Md.