Required Disclosures (2)
1. Lead-Based Paint Disclosure & EPA Pamphlet – Required for all housing structures built before 1978.[1]
2. Owner/Manager Identification – All agreements must state the person in charge of maintaining the premises, whether the landlord or someone instructed to act on their behalf.[2]
Security Deposit Laws
Maximum Amount – One (1) month’s rent. This does not include other types the landlord can request, such as a pet deposit or for “increased liability risk” imposed by the tenant.[3]
Returning – A landlord must return a security deposit to the tenant within 60 days after termination of the lease and delivery of possession (tenant vacates the property).[4]
- Itemized List – If the landlord does not refund the security deposit in its entirety, an itemized list of the amounts withheld must be mentioned.[5]
Rent Payment Laws
Grace Period – No rent grace period. Rent must be paid without demand or notice at the time and place agreed upon by the landlord and tenant.[6]
Maximum Late Fee – There is no statutory limit to how much the landlord can charge the tenant for late rent. Therefore, the State’s maximum interest rate applies (usury rate) of 8% per year. This is limited to an interest rate of 6% for verbal agreements.[7]
NSF Fee – If rent is paid with a dishonored check, the landlord can charge a fee of $30.[8]