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Kentucky Rental Lease Agreement | Laws

A Kentucky lease agreement is a contract between a landlord and a tenant that lays out the terms and conditions of the rental of commercial or residential real estate. The purpose of the document is to provide proof that both parties are fully aware of their respective rights and responsibilities. Both landlord and tenant must sign the bottom of the agreement to render it legally binding.

Rental Application – A rental application is a document used to vet potential tenants and find the most suitable candidates.

Contents

Agreements: By Type (7)


Commercial Lease Agreement – An agreement used for non-residential properties, those designated for business purposes such as an office space or warehouse.

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College Roommate Agreement – A less formal agreement between roommates boarding together at college.

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Lease with Option to Purchase (Lease to Own) – An agreement that, in addition to enabling the tenant to rent the property, provides them with the ability to buy the property under conditions stipulated within the lease.

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Month to Month Lease Agreement – A month to month lease renews every month as opposed to the standard, one (1) year lease. Unlike a fixed-term agreement, there is no termination date in a month to month lease.

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Roommate Agreement – A contract between a tenant and a roommate that defines the responsibilities of both parties.

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Standard (1-year) Lease Agreement – The most common lease agreement, it lasts for a term of (1) year, usually with the option to renew.

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Sublease Agreement – With permission from the landlord, a tenant can use the sublease agreement to rent a portion of their rental property to a sub-lessee.

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Landlord-Tenant Laws

Disclosures

Move-in Inspection Form (§ 383.580) – It is required that, prior to moving in, the landlord and tenant inspect the premises together and identify any necessary repairs.

Landlord’s Access

General Access (Statute 383.615(3)) – For general access to the property, the landlord is required to provide the tenant with at least two (2) days’ notice.

Emergency Access (Statute 383.615(2)) – The landlord can access the property in case of an emergency at any time.

Rent

Grace Period (§ 383.565(2))- There are no statutes that define a grace period for late rent in Kentucky. Rent is due on the date specified in the lease agreement.

Maximum Fees ($) – There is no statutory limit placed on late fees.

Rent Increase Notice – There is no statutorily defined notice period to which landlords must adhere before increasing rent.

Security Deposits

Maximum Amount ($) – There is no limit defined in the state statutes that dictates how much a landlord may charge as a security deposit.

Returning to Tenant (§ 383.580(7)) – The landlord must wait sixty (60) days from the termination of the lease to allow the tenant to claim the security deposit.

Interest Required? – There is no statute regarding the collection and delivery of interest accrued from a security deposit held in a bank account.

Separate Bank Account? (§ 383.580(1)) – The landlord must place the security deposit in a bank account created solely for that purpose.