Create a North Carolina Lease Agreement with our attorney-drafted template!
A North Carolina lease agreement is a legally binding contract placed into writing that explains the obligations of both the tenant and the landlord. All lease agreements written in North Carolina must comply with the landlord-tenant laws of the state.
In North Carolina, the most commonly used lease agreements are a standard residential lease agreement (usually good for a lease term of 12 months), a month-to-month lease agreement, a lease to own agreement, a roommate agreement, a sublease agreement, and a commercial lease agreement.
Since a standard North Carolina lease agreement is the most common residential lease used, it’s important that you know the information that it must include:
Finally, the tenant and the landlord must date and sign the North Carolina lease agreement.
The landlord must disclose the name and address of the bank where the security deposit is held. The landlord must deposit the money into a licensed trust account in North Carolina. If the residential unit was built prior to 1978, landlords most give a lead based paint disclosure under federal law.
North Carolina state law limits the amount that the landlord may request as a security deposit as 1.5 month’s rent for month-to-month tenancies and no more than two months’ rent for annual ones. Security deposits must be returned within 30 days of the end of the lease. However, if the property has damage, the landlord may send a notice during that 30 days stating that they need another 30 days to get an estimate for the repairs.