The most commonly used Kentucky lease agreements include a standard residential lease agreement, a month-to-month lease agreement, a lease to own agreement, a roommate agreement, and a commercial lease agreement.
A standard Kentucky lease agreement is the most commonly used agreement. They’re used for residential units and are usually for a term of one year. It should comply with Kentucky law. The basic terms of this agreement include:
Under state law, Kentucky lease agreements must also include certain disclosures. We already mentioned the lead-based paint disclosure. This is actually a federal law. If a residential unit was constructed before 1978, the landlord must provide a disclosure about the possibility about lead-based paint.
The landlord must disclose the identities of individuals allowed onto the rental property if they are an agent or manager. The landlord must complete a walk-thru with the tenant to document any existing defects or need for repairs. The tenant may waive this, but to do so, they must sign a waiver. As mentioned in the section above, the landlord must disclose which bank the security deposit is held in along with the account number.
Under state law, the landlord must give at least two days of notice to the tenant before entering the property for any non-emergency reason.
There is no maximum for a security deposit under Kentucky law. However, the landlord must return the deposit within 60 days of the end of the lease. If the tenant doesn’t provide a forwarding address within that time period, the landlord is legally entitled to keep the money.