It is important to familiarize yourself with the specific nuances and requirements of North Carolina law in order to best protect your financial and legal interests. This way, your lease will be much more comprehensive and avoid potential trouble and legal problems in the future. Maintenance Supplement (Form 440-T) – Is added to the content of a lease agreement to clarify the tenant`s maintenance responsibilities. The limit imposed by the Land Government on the amount that an owner may prescribe to ensure the occupation of the property is different for each category of contract (§ 42-51): standard rental agreement – Forms a detailed explanation to record the conditions and agreements related to the rental of space for a specified amount of time and dollars. Rental application – An instrument assigned by the owner or management of a rented property to people wishing to rent the premises, which in turn allows them to retrieve certain data that may be useful for the evaluation of the interested customer. Sublease Agreement – The action of a tenant that allows someone else to use their property on the land until the end of its term. Landlords must communicate to a tenant, within thirty (30) days of the start of the lease agreement, the name and location of the financial institution in which the surety is held. (NCGS § 42-50) LATE FEES. If rent is not paid by the due date set out in this Rental Agreement, a late fee of ___% or $____ will be paid on the balance. Tenants are expected to compensate the tenant with the amount agreed on the date well defined in the rental agreement.
The oldest tenant, who is received more than five (5) days after the due date, exceeds the additional period allocated and may be subject to late penalties (§ 42-46). Commercial Lease Agreement – Summarizes the provisions, duration and price of renting real estate for a business unit exclusively for use by the business. The following model lease agreement describes a contract between “owner” Alan Timlin and “tenant” Lillie Yaeger. . . .