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Section 1 serves as the customizable core of the lease, capturing all the unique details of your rental arrangement. Within this section, landlords insert information such as tenant names, rental amounts, and specifics regarding utilities. This customization occurs during the lease creation process via TurboTenant’s platform. Aimed at clarity and straightforwardness, the agreement features a summary table at the forefront, with further details like smoking policies, key management, and utilities outlined in the subsequent text.
Key aspects of Section 1 in our Generated Lease Agreement include:
Section 2 is where the lease adheres to North Carolina-specific laws, but our Advanced Editor allows changes to be made with full disclosure that any edits may take you out of full compliance with state and/or local law and consultation with an attorney is advised.. Notable clauses within this section are:
Lease agreements in North Carolina are primarily guided by state law, but local county ordinances can introduce additional provisions that landlords need to incorporate. Here’s a breakdown of how these local regulations might affect lease terms in various North Carolina counties:
It’s crucial for landlords and property managers, especially those working with TurboTenant, to remain informed about both state and local regulations. To ensure lease agreements meet all legal requirements, seeking advice from a legal professional familiar with North Carolina’s landlord-tenant laws and county-specific ordinances is highly recommended.
The final section incorporates clauses that represent standard practices for lease agreements across the United States:
Yes, you can include additional terms through the Additional Provisions section of Section 1 or through our Advanced Editor feature. These can encompass property-specific rules or clauses that are necessary due to local regulations. It is recommended to have these provisions reviewed by a legal professional to ensure they are compliant with the law.
Tenants who fail to return their keys are responsible for the cost associated with rekeying the property. This cost is outlined in the lease agreement and can be deducted from the security deposit if necessary.
A late fee in North Carolina can be the greater of 5% of the unpaid rent amount or $15, as long as it is charged after 5:00 pm on the 5th day of the month. If the 5th falls on a Sunday or legal holiday, the payment deadline and late fee assessment extend to the next business day.
Yes, for month-to-month tenancies, the security deposit cannot exceed one and a half month’s rent. For longer tenancy terms, the maximum security deposit can be up to two months’ rent. The lease agreement should clearly state the security deposit amount and the terms for its return.
North Carolina state law requires that landlords return the security deposit within 30 days of regaining possession of the property. This must include a detailed statement if there are any deductions for damages or unpaid rent. If the tenant’s address is unknown, the landlord must hold the balance of the deposit for at least six months for collection by the tenant.