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The Free Kentucky rental and lease agreement template is used for the renting of property between a lessor and a lessee in Kentucky. When a prospective tenant has had a look at the premises, they will usually fill up a rental application that allows the lessor to ascertain their employment status and background information. If the potential tenant is accepted for tenancy, a lease is created stating the agreed-upon terms between the landlord and tenant. Rental Application – Used by the lessor for obtaining the lessee’s personal, financial and work-related details.
Commercial – KRS Chapter 355.2A
Residential – KRS Chapter 383
Commercial Rental Lease Agreement – This is a lease agreement that deals with the terms related to a property used for business purposes. It can range from office space to industrial manufacturing.
Monthly Rental lease Agreement (§ 383.695) – A leasing arrangement with no designated date for termination of tenancy but can be canceled by either landlord or tenant and requires the provision of prior notice of a minimum of thirty days.
Rent-to-Own Rental Agreement – An agreement that allows the tenant to purchase the property at an agreed-upon price with the landlord. This is also known as an option to purchase.
Roommate Lease Agreement – For members of a shared housing arrangement for creating an agreement as to the responsibilities of each member of the dwelling towards the payment of rent and how common areas such as living room, kitchen, etc would be managed and, maintained.
Standard Rental Lease Agreement – A standard rental agreement with a start and end date.
Sublease Agreement – An act of a lessee under an active rental contract from a landlord and intend to bring in a new tenant to assume responsibility for rented space and see out the remainder of the term. This arrangement does not always require approval from the landlord. It also comes in two options; a commercial sublease and a residential sublease.
Authorized Access (§ 383.585) – A property owner is required to state in the agreement before the start of the tenancy, the persons (and their occupation) allowed access to the premises. e.g, agents.
Lead-Based Paint Information – Per law, all landlords are required to inform their tenants, for properties built before the year 1958, of the presence of this hazardous paint material inside of the dwelling.
Move-in Inspection Form (§ 383.580(2)) – If a security deposit is acceptable by the property owner, they are obligated to provide the lessee a summary of any preexisting damage on the property. The occupant has to confirm the authenticity of the summary and if agreeable, append a signature.
Security Deposit Receipt (§ 383.580(1)) – The security deposit receipt is a document that serves as an acknowledgment that a tenant has paid their security deposit for their lease.
According to § 383.615, a lessor is required to provide a minimum of two days’ notification to the lessee before accessing the property for reasons that are non-expedient.
Maximum – No limit.
Returning (Statute 383.580) – A lessor is mandated to send back all funds relative to security deposits within sixty days from the date of tenancy expiration. If a banking address is not provided by the tenant within the allotted time, the lessor may keep the deposits.