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Arkansas Rental Lease Agreements | Laws

An Arkansas lease agreement is a legal document used to convey the terms and conditions of renting commercial or residential property to a tenant. The owner or landlord of the rented property will take applications from potential tenants to ensure they are fit for tenancy. Once they have chosen an applicant, the lease agreement will be signed by both parties and they will be legally bound thereto.

Rental Application – A form filled out by applicants to provide information to the landlord and give consent for a background check.

Contents

Agreements: By Type (7)


Commercial Lease Agreement – Used to rent non-residential property such as offices, industrial spaces, or retail outlets.

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College Roommate Agreement – Conveys terms for two (2) or more college/university students living together. This may include setting spacial boundaries, studying and sleeping schedules, and cleaning duties.

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Lease with Option to Purchase (Lease to Own) – A contract that starts out as a rental situation while providing the tenant with the option to purchase the property once certain terms and conditions have been met.

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Month to Month Lease Agreement – Used to rent property to a tenant on a month to month basis with no fixed end date on the lease. The landlord or tenant can cancel this agreement at any time as long as proper notice is given.

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Roommate Agreement – A contract between a tenant and another individual who is not on the original lease but will be residing in the rented property.

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Standard (1-year) Lease Agreement – Most common lease wherein tenant rents property for one (1) year with the option to extend it at the end of 12 months.

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Sublease Agreement – Used by a tenant to rent a portion or the entirety of their rental property to another individual (must be approved by landlord).

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Landlord-Tenant Laws

Disclosures

There are no state-specific disclosures that a landlord must present to their tenants.

Landlord’s Access

General Access – Landlord’s are not required to provide notice to tenants before accessing the premises; however, it is recommended that landlords give 24 hours notice to preserve a healthy relationship with tenants.

Emergency Access – Not mentioned in state statutes but landlords will most likely respond to an emergency situation as soon as possible.

Rent

Grace Period (§ 18-17-701(b)) – The tenant has five (5) days to pay rent after the day rent is due or landlord may terminate the lease agreement.

Maximum Fees ($) – Fees for late rent not mentioned in state statutes.

Rent Increase Notice – There are no laws regarding notices for increasing rent.

Security Deposits

Maximum Amount ($) (§ 18-16-304) – 2 months’ rent is the maximum amount a landlord may charge a tenant for security deposit.

Returning to Tenant (§ 18-16-305) – Landlord must return the security deposit (minus any deductions) to the tenant within sixty (60) days of terminating the tenancy.

Interest Required? – Not mentioned in state statutes.

Separate Bank Account? – Not mentioned in state statutes.