North Carolina Rental Lease Agreements
The North Carolina Rental Lease Agreements are documents that serve to protect the rights of landlords and tenants of residential rental properties. In addition to protecting both parties’ respective rights, this agreement breaks down their obligations in relation to matters like rent amount, furnishings, repairs, and landlord entry to the rental dwelling.
It is often reported that landlords in North Carolina must make a number of disclosures to tenants. In actual fact, most of these disclosures are limited to sellers, not landlords. In any case, landlords are advised to cooperate with tenants to deal with any problems or hazards that come up so that healthy landlord-tenant relations can be maintained.
What is a North Carolina Lease Agreement?
A North Carolina Lease Agreement is a vital legal document for landlords who wish to make the process of renting a residential dwelling to a tenant as trouble-free as possible. The contract helps to achieve this by deambiguating the terms of a lease for both the landlord and tenant. Another document landlords will find useful prior to this process is a rental application—a document that assists in vetting applicants.
State Definition – No state definition.
Types of Agreements
College Roommate Agreement – From guest policies to cleaning duties, this document simplifies the rules college roommates agree to follow in their dorm room.
Commercial Lease Agreement – A document that distinguishes itself from a Residential Lease Agreement by encompassing terms exclusively for the lease of a property for business purposes.
Lease to Own Agreement – This agreement provides the tenant the opportunity to exercise his or her option to purchase the rental property from the landlord.
Month-to-Month Lease – Landlords who choose to only lease their rental property for terms of thirty (30) days at a time should draft this agreement with a tenant who also agrees to such conditions.
Roommate Agreement – Individuals sharing the same house may have conflicting ideas about ideal roommate conduct. That’s why many roommates consider this to be an essential document to create.
Standard Residential Lease Agreement – This agreement upholds North Carolina landlord-tenant laws so that a lease of a residential property can be legally executed.
Sublease Agreement – A document that encompasses matters pertaining to the sublease of a property, such as the names of the parties, the original lease terms, and the sublease’s length and rent amount.
When is Rent Due?
North Carolina state laws do not cover when rent is due. The date rent is due should thus be clearly stated in a written lease agreement to avoid any misunderstandings. In accordance with NCGS § 42-46(a), a grace period of five (5) days exists before a landlord may charge a late fee.
Emergency: There is a lack of statute covering the matter of landlord access in emergency circumstances. That being said, federal law dictates that landlords may access a rental property without notice to a tenant in emergency circumstances.
Non-Emergency: There is similarly no state statute regarding non-emergency landlord access to the rental property. Landlords are thus advised to provide tenants with at least twenty-four (24) hours notice. They are also advised to only enter during business days from 9 a.m. to 6 p.m.
- Lead Paint Disclosure: Federal law establishes that landlords of properties built before 1978 must provide tenants with a pamphlet about lead based hazards. They must also inform them of any known lead paint hazards in the rental dwelling.
- Security Deposit (§ 42-50): If the landlord demands a security deposit from the tenant, the landlord or their agent must alert the tenant within thirty (30) days after the beginning of the lease term of the name and address of the bank or institution where the tenant’s deposit is currently located.
Security Deposit Laws
Maximum (NCGS § 42-51): Security deposits may not exceed two (2) months’ rent for terms more than month to month. For month to month tenancies, the security deposit may not exceed an amount equal to two (2) weeks’ rent.
Returning to Tenant (NCGS § 42-52): The landlord must return the deposit no later than thirty (30) days after termination of the tenancy and delivery of possession of the premises to the landlord. If the landlord will retain any portion of the deposit due to damages caused by the tenant, they must itemize in writing any damages and mail or deliver it to the tenant within this time frame along with the balance of the security deposit.
If the landlord’s claim cannot be determined within this time frame, the landlord must provide the tenant with interim accounting no later than thirty (30) days after termination of the tenancy and delivery of possession of the premises to the landlord. They must then provide the final accounting within sixty (60) days after termination of the tenancy and delivery of possession of the premises to the landlord.