A North Carolina standard residential lease agreement is a legally binding contract between a landlord and tenant that outlines the terms and conditions of a rental arrangement.
The lease agreement typically lasts for one year and includes details such as the monthly rent amount, security deposit, pet and vehicle fees, and utility costs. Once both parties have signed the lease, they are obligated to abide by its terms until the end of the lease term.
Lease Length Considerations
- It is possible to have a lease for any length of time as long as the duration of the lease is clearly specified and agreed upon in writing by both the landlord and tenant.
- Oral leases are usually limited to a term of no more than one year.
Required Lease Disclosures
- Lead Paint Disclosure.
- Notice of Abandoned Personal Property.
- Security Deposit Notice.
- Late Fees Disclosure.
For full details on required disclosures and applicable laws, check out our North Carolina lease agreements page.
Security Deposit
-
Maximum Amount ($):
- Two weeks’ rent for week-to-week tenancies,
- One and a half months’ rent for month-to-month tenancies
- Two months’ rent for tenancies with terms greater than month-to-month. [1]
- Returning to Tenant: 3o days. [2]
Rent Payment
- Grace Period: Tenants have a grace period of five days to pay their rent. [3]
- Maximum Late Fee: $15 or 5% of the monthly rent, whichever is greater. [3]
- NSF Fee: Maximum of $35 for a bounced check. [4]
Landlord Resources
- Landlord-Tenant Laws – § 42 (Landlord and Tenant).
- Handbook – Landlord/Tenant Law (PDF).
