What is an Arkansas Lease Agreement?

An Arkansas lease agreement is used in rental property and it is a contract between a landlord and a tenant in exchange for monthly rent payments. The agreement also includes the terms and conditions of the lease.

Laws to Abide

Security Deposit, Two months rent is the maximum rent a landlord can charge a tenant. After the termination of a lease, all funds, as specified in section 18-16-305, must be returned to the tenant within sixty (60) days. If the landlord cannot locate or contact the tenant within one hundred and eighty (180) days after the termination date, then the money becomes the landlord’s property.

Payment of rent must be made at the time and location as stipulated in the rental agreement (§ 18-17-401(b)(1)). It is important to note that Arkansas has no provision for a rent grace period.

Late fees are charges a landlord imposes when a tenant fails to pay rent on time.

In Arkansas, there is no specific law that limits the amount of late fees a landlord can charge.

Right To Enter: It is not mandatory for a landlord to provide prior notice before entering the premises as per state law.

Disclosures Required by Law

The lead based paint disclosure is enforced by law. If the house was purchased before 1978 then the landlord must give this disclosure form to the tenant.

Types of Agreements

Standard Lease Agreement – Residential lease agreement for any property type, fixed term of 12 months.

Commercial Lease Agreement – Our Commercial Lease Agreement is perfect for individuals and businesses seeking office, retail, or industrial space.

Month-to-Month Lease Agreement – Month to Month Lease Agreement, also known as “tenancy at will,” automatically renews with payment and ends with 30 days written notice unless otherwise stated.

Rent-To-Own Lease Agreement – This document presents a standard lease agreement that offers the option to rent-to-own within a specified period. It is a professional template that conforms to industry standards and is suitable for sharing with external stakeholders.

Room (roommate) Rental Lease Agreement – A written agreement between tenants who are renting separate bedrooms and sharing common areas is essential to ensure a smooth and harmonious living arrangement. The agreement should outline the details of each tenant’s responsibilities, such as cleaning schedules, bill payments, and rules for using shared spaces. This arrangement requires mutual respect, consideration, and cooperation from all parties involved. It is imperative that each tenant adheres to the terms of the agreement to maintain a peaceful and comfortable living environment for all.

Sublease Agreement – A Sublease Agreement is a legal document that grants a tenant the ability to sublet their property to another individual, with the obligation of paying rent to the landlord.

Rental Application: Before finalizing the lease agreement, prospective tenants are subject to a thorough screening process, including a credit check and verification of employment and income. This process ensures that all tenants meet the requirements and assures the landlord that rent payments will be made on time.