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North Carolina Standard Residential Lease Agreement

A North Carolina standard residential lease agreement is a fixed-term rental contract between a landlord and tenant. The tenant will pay rent on a monthly basis to the landlord to use the residential space until the end date stated in the lease.
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Rental Application – Used by landlords to check a potential tenant’s credit and financial history.

Required Disclosures (2)

1. Lead-Based Paint Disclosure & EPA Pamphlet – If the property was built before 1978, its landlord must disclose to tenants that the walls and ceiling could contain lead-based paint.

2. Security Deposit Receipt – Landlords who collect security deposits must disclose the name of the bank and account in which the funds are being held.[1]

Security Deposit Laws

Maximum Amount – Two months’ rent for fixed-term tenancies and one and a half month’s rent for month-to-month tenancies.[2]

Trust Account or Bond – A security deposit must be placed in a trust account with a federally insured depository institution or secured by a bond issued by a North Carolina insurance company.

Returning – The landlord must return the security deposit to the tenant within 30 days of the end of tenancy. An itemized list of damages must be given to the tenant if deductions are made.[3]

Rent Payment Laws

Grace Period – Five days.[4]

Maximum Late Fee – $15 or 5% of the monthly rent, whichever is greater.[5]

NSF Fee – $35.[6]