The Alaska lease agreement is an extremely common document that is carried out when a property owner (landlord) would like to convey the rights to occupy their premises to another individual for a monetary payment. Within the contract are stipulations that each party must adhere to in order to maintain a valid agreement. Some of the stipulations will include the length of the tenancy, the amount of the periodic payment, and any restrictions on the use of the property.
Rental Application – A supplied form distributed to those that desire to be a possible choice for the tenant of the property being leased. The document prompts the initiate to include pertinent information to be reviewed by the landlord to decide if the applicant meets financial requirements to rent.
Lease Agreements By Type
Commercial Lease Agreement – A contract that is utilized when the lessor is renting out a commercial property to a business whose intent is to generate income.
Lease to Own Agreement – Provides the lessee with the option to buy the property depending on the provisions set forth within the document.
Month-to-Month Lease – Allows the tenant to rent the property for a maximum of one month at a time. At the end of each month, either party may end the contract (you are required to give thirty (30) days’ notice prior to termination).
Roommate Agreement – Used when renting out a singular room/common area of a residential property.
Sublease Agreement – When the original lessee decides to re-rent the property to another individual (as long as it is not in violation of the primary lease).
The legislation that governs the conduct between a lessor and lessee is specified within the Alaska Uniform Residential Landlord & Tenant Act (§ 34.03.010 – 34.03.360).
Required Landlord Disclosures
Landlord or Authorized Person (§ 34.03.080) – Must disclose to the tenant (in writing) their name & address, as well as the contact details for the individual who is managing the property.
Lead-Based Paint (42 U.S. Code § 4852d) – Any landlord who is renting/leasing a residential home that was built prior to 1978 must disclose whether or not the property contains any lead-based paint hazards.
Mobile Home Upgrades (§ 34.03.080(d)) – If the operator of a mobile home park is going to rent out space to a new tenant, they must disclose any required capital improvements that the renter may need in order to coincide with the park’s regulations.
When is Rent Late?
Under Alaska law, there is no fixed grace period. The payment amount for rent is owed on the date listed within the lease (§ 34.03.020).
No late fees may be charged unless it has been stipulated within the lease agreement prior to the tenant occupying the property.
There are no fees applicable for returned checks, except in cases where it has been agreed upon by both parties during the execution of the lease (according to The Alaska Landlord & Tenant Act).
Security Deposit Maximum
A security deposit may not surpass the maximum of the total of two (2) month’s rent unless the monthly payment for the property exceeds the amount of $2,000 (§ 34.03.070(a)).
Security Deposit Return
The landlord must return the security deposit (by mail) within fourteen (14) days of the lessee moving out and providing a formal notice that they would like to end the tenancy (§ 34.03.070(g)). If a notice is not sent, the landlord has up to thirty (30) days to return the security deposit.
If the landlord needs to access the property, they are required to notify the tenant twenty-four (24) hours before entering the premises (§ 34.03.140(c)). Must be at an appropriate time of day.