The Ohio lease agreement warrants a physical record reciting the details of a real estate transaction allowing the right of use for a designated tenant. The archival paperwork provides legal protection for both parties should one deviate from any of the restrictions of the contract. Cataloged in the document are the particulars of the rental agreement, name(s) of the tenant(s), name(s) of the owner(s), rental rate and duration of the contract.
Lease Agreements By Type
Commercial Lease Agreement – Highlights the commitment to rent commercial space for the singular purpose of business activity.
Lease to Own Agreement – Furnishes documentation to organize the arrangement for rental of a residential unit with an available option to buy upon completion of the leasing period.
Month-to-Month Lease – Involves a contract to rent a home with an allowance to end without consequence with advance notice of thirty (30) days.
Roommate Agreement – Specifies terms to a lease where an individual is allowed a room and shared segments of the house for a particular time period and concluded price.
Sublease Agreement – Completes a written guarantee for a current renter to re-rent a domicile to an alternate tenant for an agreed-upon payment schedule.
A summarized account of laws appointed by the state government to establish restrictions and obligations for both lessors and lessees are available for review within the Ohio Revised Code Chapter 5321 on Landlords and Tenants.
Required Landlord Disclosures
There are no mandatory disclosures needed to be included in the lease agreement on a state level. There is federal enforcement regulation to ensure that a possible tenant is informed of the dangers presented by lead-based paint for constructed buildings that were put up in 1978 or earlier. The Environmental Protection Agency demands the lessee be informed of precautions to take, warning signs of possible exposure and confirmation, via signatures, that the information was received before lease execution (42 U.S. Code § 4852d).
When is Rent Late?
Grace periods specifics are not spelled out in the regulations set forth by the state of Ohio. Check the wording of the leasing document to ensure you are aware of any allocated grace granted for monthly payments.
The Ohio Revised Code does not detail a limitation on fees that a landlord can charge a tenant when the rental payment is received after the endorsed due date. Court proceedings have set several precedents as to determining that the late fees must be established in the lease and be considered “reasonable” to effectively be pursued.
Checks that are sent back to the landlord for reasons of inadequate funding can result in a charge if included within the lease agreement. The maximum fee amount is the greater of either $30 or 10% of the rental payment remitted to the lessee (§ 1319.16).
Security Deposit Maximum
No proposed limit has been capped on the sum a landlord can ask for as monetary security for a rental unit. Any lease agreement six (6) months or longer with a security deposit of more than $50 entitles an interest payment at 5% annually to be paid to the tenant upon the end of the lease term (§ 5321.16.A).
Security Deposit Return
The owner of a residence has thirty (30) days to refund the security deposit to the occupant after the lease period has terminated, and tenant vacated the premises. Should the property have endured any inflicted destruction by the tenant, a register of the repair costs must be sent to the tenant along with the remainder of the deposit after deduction(s) (§ 5321.16.B).
The lessor is obligated to respect the right of entry and engage in entering only after twenty-four (24) previous notification to the tenant. Gaining access for maintenance purposes is acceptable only within parameters considered to be during reasonable times of the day (§ 5321.04.8).
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