A North Carolina residential lease agreement is for landlords and tenants making a lease that is most commonly a one (1) year term. The agreement establishes rent payments made each month and other terms and conditions that will dictate the relationship between the parties. Before authorizing an agreement, the landlord will usually check the tenant’s credit, employment, and rental history along with verifying his or her income to reduce the chances of a future eviction. Once the tenant has been approved through a rental application, the agreement should be signed by both parties.
The security deposit (if required) and the first month’s rent should be provided so that the tenant can access the premises.
Standard Residential Lease Agreement
North Carolina Assoc. of Realtors Lease Agreement
Apartment Assoc. Lease Agreement
Maximum Amount ($) – The maximum that a landlord may charge their tenant for a security deposit is reliant on the nature of the agreement; month-to-month tenants can be charged as much as one and half times the monthly rent, whereas a standard lease agreement enables the landlord to charge two (2) times the monthly rent (§ 42-51(b)).
Returning – The landlord is given thirty (30) days in which to return the security deposit following the termination of the tenancy (§ 42-52).
Lead-Based Paint Disclosure – Any dwelling constructed prior to 1978 may contain lead-based paint. If the landlord is leasing such a property, they are required to provide the tenant with the above-linked disclosure form.
Security Deposit – The landlord is required to disclose the name and location of the institution in which the security deposit is being held (§ 42-50).
Water Contaminant Level – The landlord must notify the tenant if the landlord is charging for water or sewer services and they are aware that the water supplied exceeds the maximum contaminant level (§ 42-42(6)).
In accordance with § 42-46(a) of the North Carolina General Statutes, a tenant has five (5) days to pay their rent following the due date before late fees apply. Late fees can amount to as much as fifteen dollars ($15) or fifteen percent (15%) of the monthly rent, whichever is greater.
