A South Dakota standard lease agreement is a contract that establishes the conditions for a landlord to rent out a property to a tenant in exchange for monthly payments. The lease outlines the rental price, the duration of the contract, and any extra fees or deposits mandated by the landlord. Additionally, it specifies which party is responsible for covering utility costs.
The terms of the agreement are subject to negotiation after the tenant has viewed the property and expressed interest.
Considerations on Lease Length
- Leases in South Dakota can be either fixed-term or month-to-month. Fixed-term leases have a specific start and end date, while month-to-month leases are renewed automatically each month unless terminated by the landlord or tenant.
- Maximum Amount ($): One month’s rent (§ 43-32-6.1).
- Returning to Tenant: Two weeks or Fourteen days (§ 43-32-24).
Rent Grace Period
There is no statewide statutory grace period for paying rent.