The Delaware lease agreement solidifies the arrangement made between a landlord and tenant in terms of conveying possession of a rental property for a fixed period of time. Within the content of the form, users shall list the provisions that have been agreed upon prior to signing which establish the code of conduct for the use of the real estate. Once signed, the contract becomes binding and all individuals must abide by the terms & conditions set forth within the document as well as any regulations enforced by the state.
Lease Agreements by Type
Commercial Lease Agreement – Designed for a property that will house a company’s business activities.
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Lease to Own Agreement – A document specifically customized to give the tenant the right to purchase the real estate at any time during the term of the lease.
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Month-to-Month Lease – With minimal obligation, this type of contract enables either the lessor or the lessee to terminate the occupancy at any time as long as sixty (60) days’ advance notice is given (§ 5106(d)).
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Roommate Agreement – Utilized when an individual, whether they be a current tenant or owner of a property, would like to rent out a room/space within a residential dwelling.
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Standard Lease Agreement – Authenticating registry to summarize the terms and requirements to the rental of a residential dwelling.
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Sublease Agreement – If the primary landlord allows it, a sublease agreement may be implemented by the current tenant if they would like to re-rent the premises to a third party.
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Landlord-Tenant Laws
All state regulations concerning the relationship between a lessor and lessee can be found under Title 25: Property – Part III – Residential Landlord-Tenant Code.
Required Landlord Disclosures
Contact Information (§ 5105) – The landlord or an authorized individual must supply the names and business addresses of themselves and anybody who owns a portion of the property being rented (or the information of any agents working on the owners’ behalves).
Landlord-Tenant Laws (§ 5118) – The state provides a Summary of the Landlord-Tenant Code that the lessor must provide to the lessee upon the execution of the rental agreement.
Lead-Based Paint (42 U.S. Code § 4852d) – Applicable to properties built before the year 1978, a written lead paint disclosure must be included within the lease agreement to inform the lessee of the risks that are related to the hazardous material.
Security Deposit (§ 5514) – Upon the tenant’s request, the landlord must disclose the location of the escrow account that contains the security deposit funds.
When is Rent Late?
Delaware stipulates that rent is due on the time and place that was mutually agreed upon within the lease agreement. If the tenant does not supply the funds on the due date, they will be given a five (5) day grace period to provide the payment, or an eight (8) day grace period if the landlord’s business address is located in a separate county (§ 5501).
Late Fees
If the tenant does not pay rent on the agreed-upon date and extends past the 5-day (or 8-day) grace period, the landlord may charge an additional fee that is no more than five (5) percent of the total rent payment (§ 5501(d)).
NSF Checks
If a landlord receives a bad check from a tenant for a rent payment, the landlord is entitled to reimbursement for the full amount of the check, as well as compensation up to $40 for any damages incurred from their bank (§ 1301A).
Security Deposit Maximum
For lease agreements with a term of one (1) or more years, the highest amount a lessor can request for a security deposit is one (1) month’s rent (§ 5514).
Security Deposit Return
The landlord must return the tenant’s security deposit within twenty (20) days following the contract’s expiration (§ 5514(e)). If there are damages to the property that require repair, the landlord must deliver an itemized list to the tenant detailing the reason for each deduction (also within twenty (20) days after the expiration of the contract).
Landlord’s Entry
A landlord who needs to access a rental property must prepare the tenant by delivering a notice of entry forty-eight (48) hours before arrival (§ 5509(b)). Acceptable hours of entry are between 8:00 a.m. and 9:00 p.m.