Ohio Lease Agreements | Residential & Commercial

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An Ohio lease agreement is a legal contract written for a landlord seeking to rent residential or commercial real estate to a paying tenant. Before authorizing, the tenant will view the property and negotiate the monthly rent along with the landlord’s responsibilities (utilities, services, etc.). After a verbal agreement is made, a rental application will be completed to verify the tenant’s income. Once all the tenant’s credentials are approved, a written to be signed.

Rental Application – For the primary use of the landlord to ensure that the tenant is employed and their references recommend them.

Table of Contents

Agreement Types (7)


Commercial Lease Agreement – A Contract written for the use of business-related space such as office, retail (store, restaurant, etc.), and/or industrial.

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Month-to-Month Lease Agreement (§ 5321.17)- With no end date, the landlord and tenant may have an ongoing arrangement where payment is made every month. Either party may terminate the contract with at least thirty (30) days’ written notice.

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Rent-to-Own Lease Agreement – A residential fixed-term document with an added benefit to the tenant of being able to buy the property at a specific price.

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Room Rental (Roommate) Agreement – Created for individuals sharing a home where each person shall occupy a bedroom and share the main or common areas. The form shall state the roles of each person and the amount which they have to pay for utilities, expenses, etc.

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Standard Residential Lease Agreement – Fixed-term that usually lasts for twelve (12) months but can be for any specific time-frame as agreed upon by lessor and lessee.

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Sublease Agreement – Between the lessee and a person that would like to continue the lease between the lessee and the landlord, known as the “sub-lessee”. The sub-lessee must adhere to all the terms and conditions in the master agreement.

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Termination Lease Letter – Cancels a month-to-month arrangement with at least thirty (30) days’ notice to either landlord or tenant.

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Disclosures

Lead-Based Paint Disclosure – Federally law that requires all landlords/managers/agents to inform any tenant of the possible existence of this type of paint only if the residence was built prior to 1978.

Access

According to § 5321.04, landlord may only enter the tenant’s premises at reasonable times and with at least twenty-four (24) hours notice.

Security Deposits

Interest-Bearing Account (§ 5321.16) – If the landlord accepts either fifty dollars ($50) or the equivalent to one (1) month’s rent, whichever is greater, it should be held in an interest-bearing account at a rate of five percent (5%) per annum if the tenant is to stay on the premises for at least six (6) months. This interest rate must be paid by the bank or landlord.

Maximum – There is no State cap.

Returning (§ 5321.16) – Within thirty (30) days after the termination of a lease shall the landlord be required to pay back the tenant, along with any interest, their amount for the security deposit.

Guides

(Video) What are the Ohio Rental Laws?