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Alaska Rental Lease Agreements | Laws

An Alaska lease agreement is a contract between a landlord and a tenant for the use of a property for commercial or residential use. When entering into a lease, the landlord is recommended to screen the tenant first by running a credit check and viewing their criminal history (if any). Afterward, a lease may be written with the landlord accepting the security deposit, first (1st) month’s rent, and any other fees.

Rental Application – Use to obtain the tenant’s consent when conducting credit and background check.

Contents

Agreements: By Type (6)


Commercial Lease Agreement – For a retail, industrial, office, or any non-residential space.

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Rent-to-Own Agreement (Lease Option) – A standard lease that allows the tenant to purchase the property with agreed-upon terms.

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Month-to-Month Lease Agreement (AS 34.03.290(b)) – For a lease that has no end date and can be canceled at any time by the landlord or tenant. In Alaska, the minimum termination period is

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Roommate Agreement – To rent a room or a portion of a home to another person.

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Standard (1-year) Lease Agreement – Common one (1) year arrangement with a fixed rent amount due each month.

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Sublease Agreement – Allows a tenant to re-rent a portion or their entire space to someone else. Subject to the landlord’s approval in most cases.

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Landlord-Tenant Laws

Required Disclosures

Landlord’s Information (AS 34.03.080) – In the agreement, it must include the name and address of the individual authorized to manage the premises. If this information should change at any time, it must be communicated to the tenant.

Landlord’s Access

General Access (AS 34.03.140(c)) – Twenty-four (24) hours notice is required with the tenant’s consent. The tenant cannot unreasonably withhold consent meaning they must have a valid reason.

Emergency Access (AS 34.03.140(b)) – Landlord may enter the premises immediately if there is an emergency.

Rent

Grace Period – No law. The tenant pays rent on the day stated in the rental agreement.

Maximum Fees ($) (AS 45.45.010(a)) – According to Page 3 of the Alaska Landlord & Tenant Act the landlord may charge a small flat fee. If it is a percentage-based fee it cannot be more than 10.5% interest (accruing annually) on the amount owed.

Rent Increase Notice (AS 34.03.290(b)) – For month-to-month tenancies, the landlord must give at least thirty (30) days’ notice before increasing the rent on a tenant.

Security Deposits

Maximum Amount ($) (AS 34.03.070(a)) – Two (2) months’ rent. If the monthly rent is more than $2,000, there is no limit on the security deposit amount.

Returning to Tenant (AS 34.03.070(g)) – Fourteen (14) days if proper notice is given, if not, the landlord has thirty (30) days to return to the tenant.

Interest Required? (12 AAC 64.210) – Interest is only required to be paid if the landlord’s trust account where the funds were held accumulated interest. The landlord is not allowed to keep any interest accrued.

Separate Bank Account? (AS 34.03.070(c))– Yes, the landlord is required to deposit the funds in a separate trust account.