North Carolina Lease Agreement Template – Forbes Advisor

A lease is a complicated document. It should include provisions necessary to address all the issues that arise when a residential or a commercial property is rented. It can be difficult to create this document from scratch without guidance.

A North Carolina lease agreement template—like the free template you can get by entering your email—provides a blueprint that landlords and tenants can use to make a legally enforceable contract that comprehensively identifies their rights and their responsibilities.

A North Carolina lease agreement is simply a contract that is used to create a relationship between a landlord and a tenant and to define the terms of their rental arrangement. A NC lease agreement is also called:

• A North Carolina lease contract
• A NC rental contract
• A North Carolina rental agreement
• A NC tenancy agreement
• A North Carolina lease form

NC lease agreements can be entered into when many different kinds of rental arrangements are created. Some common examples of North Carolina leases include:

• Residential leases
• Commercial leases
• Sublease agreements
• Roommate contracts

Both oral and written NC lease agreements are recognized by law in the state of North Carolina and both types of leases are enforceable. However, if the lease will last for three years or longer, the agreement must be in writing.

You should always aim to create a written agreement, even if not required by law to do so. Otherwise it could be difficult to resolve any dispute that arises without clear evidence of the terms that the parties to the contract agreed upon.

Landlords usually take on the responsibility of creating a NC lease agreement. In fact, tenants usually simply sign the contracts their landlords present them with. In many cases, there is more room to negotiate on commercial leases but tenants do always have the option to try to negotiate lease terms when a landlord creates a contract.

If a landlord does not have a standard form contract, a tenant can create a NC lease agreement and ask the landlord to sign it. It’s best for both a landlord and tenant if a contract is put into place, and it doesn’t really matter which party actually drafts the contract as long as both parties agree to the terms and sign it.

Generally, the parties to a NC lease agreement include the following individuals:

• A landlord or lessor who owns and is renting out the property.
• A tenant or lessee who is the person renting the property and gaining access but not ownership

When a tenant isn’t considered to be well-qualified and the landlord has concerns about their ability to comply with the lease agreement, the landlord may require a cosigner or a guarantor to be a party to the contract as well. This cosigner agrees to accept legal responsibility for complying with the lease. This reduces the risk to the landlord, especially if the cosigner has better credit or more income than the tenant.

A North Carolina lease agreement should include all of the details necessary to establish the terms of the rental relationship. This includes the following:

• The contact details of the landlord and tenant(s)
• A description of the rented space
• Details on how much rent is due, when it must be paid, when it is late and what the consequences of a late payment will be
• Restrictions on the use of the property, such as whether pets are permitted or specific prohibited and permitted actions on the premises
• Restrictions on the landlord, such as details about when and how the landlord may access the property
• A description of the security deposit and what it is used for

North Carolina leases must be drafted in compliance with state laws. For example, state law allows landlords to charge the greater of 5% of the rent or 1$5 in late fees one time per rental payment, so a lease agreement cannot impose late fees in excess of what is permitted.