An Oklahoma standard lease agreement is a legal contract between a landlord and tenant that sets the conditions for renting a property. This comprehensive agreement delineates the respective responsibilities of both parties throughout a specified fixed-term period, typically one year.
In addition to specifying the duration of the lease, it furnishes essential details regarding rules, regulations, and the associated costs for acquiring and maintaining the rented unit.
Considerations on Lease Length
- The maximum duration is not specifically limited by state law. This means that landlords and tenants can agree on a lease term that suits their needs, whether it’s short-term or extended for several years.
- If the rental contract doesn’t specify a set period in writing, then for someone renting a room and paying rent weekly, the rental is on a week-to-week basis. For all other renters, it’s month-to-month (Okla. Stat. § 41-110).
Security Deposit
- Maximum Amount ($): No state-imposed limit.
- Returning to Tenant: Within 45 days. (§ 41-115(B))
Rent Grace Period
There is no specific state law that provides a grace period for rent payments. (§ 41-109(B)) Nonetheless, such a grace period and any associated late fees can be established within the terms of the lease agreement.
Landlord Resources
- Landlord-Tenant Laws – § 41 (Landlord and Tenant).
- Handbook – Tenant Rights and Duties (PDF).
