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Arkansas Standard Residential Lease Agreement

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Arkansas Standard Residential Lease Agreement

Updated May 11, 2024

An Arkansas standard residential lease agreement is a legally binding contract that allows a tenant to occupy a property in exchange for monthly rent. A typical agreement outlines the rights and responsibilities of both the landlord and the tenant.

Rental Application – Used by landlords to verify a prospective tenant’s financial circumstances and ability to pay rent.

Required Disclosure (1)

  1. Lead-Based Paint Disclosure – The landlord must inform the tenant of the possibility of lead-based paint on the premises if built before 1978.[1]

Security Deposit Laws

Maximum Amount – A landlord may not require a security deposit exceeding two months’ rent.[2]

Returning to Tenant – The landlord must return the deposit within 60 days of the termination of the lease agreement.[3]

  • Itemized List – The landlord is required to mail an itemized list of any deductions made from the security deposit via first-class mail to the tenant’s forwarding address.[4]
  • Unable to Locate Tenant – If the payment is returned and the landlord cannot locate the tenant, then after 180 days the deposit becomes the landlord’s property.[5]

Rent Payment Laws

Grace Period – Not specified in state law.

Late Fee – Not specified in state law.

NSF Fee – If a tenant’s rent check bounces, the landlord can charge a fee of $30 per check.[6]

Sources

  1. 42 U.S. Code § 4852d
  2. Ark. Code § 18-16-304
  3. Ark. Code § 18-16-305
  4. Ark. Code § 18-16-305(b)
  5. Ark. Code § 18-16-305(b)(2)
  6. ACA § 5-37-307(c)(2)(b))