North Carolina Standard Residential Lease Agreement Template

Maximum Amount: 2 months’ rent (§ 42-51(b)).

• Receipt Required? Yes. Within 30 days of receiving the deposit, the landlord must notify the tenant in writing of the name and address of the financial institution where the security deposit will be kept (§ 42-50).

Return Period: Within 30 days after the termination of the tenancy and delivery of possession (§ 42-52).

• Itemized List Required? Yes. If withholding any portion of the deposit for unpaid rent or actual damage beyond normal wear and tear, the landlord must provide an itemized written statement detailing the deductions within the 30-day return window. If the repair costs cannot be finalized within 30 days, the landlord must submit an interim accounting within 30 days, and actual accounting and refund within 60 days of the tenancy’s termination (§ 42-52).

Lead-Based Paint Disclosure: For residential structures constructed before January 1, 1978, landlords must distribute the federal EPA Lead Hazard Pamphlet (PDF) and disclose any known lead-based paint hazards before lease execution (40 CFR § 745.113).

Foreclosure Notice (if applicable): The landlord must provide written notice to any prospective tenant for any residential properties containing fewer than 15 units that are actively subject to foreclosure proceedings (§ 42-45.2).

Late Fee: The landlord must explicitly outline in the written lease that if rent is unpaid 5 days or more after its due date, the landlord may charge a late fee of up to $15 or 5% of the monthly rent, whichever is greater (§ 42-46(a)). These terms are included in the North Carolina Standard Lease Agreement Template.