The Most Commonly Used North Carolina Lease Agreements
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.
How to Write a Standard North Carolina 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:
- The legal name and address of both the landlord and the tenant
- The full legal name and age of each occupant who will live on the premises
- The address of the leased unit
- The starting date and ending date of the lease term
- Which utilities the landlord is responsible for paying and which the tenant will be responsible to pay
- Whether water and sewer services are submetered. If so, the landlord must provide the name and address of the water and sewer service
- Whether the tenant is required to have renter’s insurance and the minimum amount required by the landlord
- The amount of the rent due each month, when it is due, how it can be paid, and when it can be paid
- Any prorated rent paid and the date the tenant may move into the property
- The amount of any late fee that must be paid if the rent is late
- The amount of any NSF fee that will be charged for a bad check
- The amount of the security deposit and pet deposit as well as the name and address of the bank where the deposits are held
- Whether there are other fees and charges the tenant may pay (such as for a replacement key)
- Whether smoking is allowed on the premises
- Any other provisions, such as whether pets are allowed and if there are any restrictions
- The following statement before the signature: You acknowledge having read and agreed to all of the provisions of this agreement.
Finally, the tenant and the landlord must date and sign the North Carolina lease agreement.
What Disclosures Must Be Made in a 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.
What You Need to Know about North Carolina Lease Agreement Deposits
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.