A Montana lease agreement is a contract that binds the owner of commercial or residential real estate and the tenant that will be renting the space. It guarantees payment from the lessee in exchange for the use of the lessor’s property.
A lease agreement does not provide any form of ownership (unless it is a lease with an option to purchase) but is used strictly to grant a party the authority to reside on, or conduct business from, the landlord’s real estate. The terms and conditions of renting including cost, duration, and termination date, will all be included in the document.
Rental application – A rental application is used to allow a landlord to gain background information on the applying tenants in order to ensure that they would be a viable candidate to lease the property in question.
Commercial Lease Agreement – Used to rent out commercial real estate for office space, manufacturing, medical centers, retail stores, and other commercial and industrial purposes.
Rent-to-Own Agreement (Lease Option) – This lease enables the lessee to rent residential property for a period of time before purchasing the property (if they so choose).
Month-to-Month Lease Agreement – Month-to-month tenancies have no set termination date and allow either party to cancel at any time by providing at least thirty (30) days’ notice.
Roommate Agreement – Roommates can detail the rules of the household and the division of costs and responsibilities by using this roommate agreement.
Standard (1-year) Lease Agreement – The standard lease agreement for residential property enables the tenant to occupy the owner’s property for a period of twelve (12) months, usually with an option to renew after the initial lease period has ended.
Sublease Agreement – A sublease provides a tenant with the ability to rent out all or a portion of the rental space to a sublessee for a predetermined period of time.
|1) Lead-Based Paint Disclosure
It must be disclosed in writing by landlords to prospective tenants that exposure to lead-based paint may be present in buildings constructed prior to 1978.
|2) Methamphetamine Disclosure
A notice must be provided to potential tenants if the property was used for the production of methamphetamine.
|3) Mold Disclosure
The landlord must provide a mold disclosure containing a statutorily prescribed written statement and the landlord’s knowledge of the existence (or lack thereof) of mold on the premises.
|4) Names and Addresses
At the beginning or before the commencement of a tenancy, the landlord is required to provide the name and address of any property manager as well as that of the owner or representative thereof who has the authority to receive notice and demands.
|5) Statement of Condition
If the tenant has provided a security deposit, the landlord must furnish each tenant with a list that details the state of the premises at the beginning of the tenancy.
- Chapter 24 – Residential Landlord and Tenant Act of 1977
- Chapter 25 – Residential Tenants’ Security Deposits
- Montana Tenant-Landlord Guide
General Access (§ 70-24-312(3)) – A landlord is not legally allowed to enter the rental property without first providing twenty-four (24) hours’ notice.
Emergency Access (§ 70-24-312(2)) – In the case of an emergency, a landlord may access the premises at any point without the tenant’s consent.
Grace Period (§ 70-24-201(2)) – There is no statute that accounts for a rent grace period; rent is payable on the first of the month unless stated otherwise in the lease.
Maximum Fees ($) – No statute.
Rent Increase Notice – No statute.
Maximum Amount ($) – No statute.
Returning to Tenant (§ 70-25-202) – If there were deductions to the security deposit, the landlord must list the deductions and return the remaining balance to the tenant within thirty (30) days of the lease termination. If there were no deductions or unpaid rent, the landlord has ten (10) days from the inspection of the premises to deliver the security deposit.
Interest Required? – No statute.
Separate Bank Account? – No statute.