Over ten million Americans rent their home or apartment. Proprietors and tenants have legal rights in regards to property rental. A home rental guide should include things to consider when renting, such as a lease or rental agreement, security deposits, evictions, and fair housing laws.

A lease or rental agreement is a written contract in which the landlord grants the tenant the right to reside in a residential dwelling for a specified period of time in exchange for money. Important lease or rental clauses to consider include rent payment in full and on time and maintenance of the property. From the property owner’s perspective, he or she should include a clause in the agreement about charging late fees if the rent payment is late or not paid in full. From the renter’s perspective, he or she should include a clause about property maintenance, in that the proprietor is responsible for all repairs. Additionally, the renter may want the right to pay a reduced amount of rent if the owner fails to repair damages.
 

Most property owners require a security deposit of one or two months’ rent prior to lease signing. Terms of the security deposit should be stated in the lease. Usually, the proprietor returns the security deposit to the tenant when he or she moves out. However, the property owner may keep the security deposit if the renter defaulted on the lease agreement, such as not paying last month’s rent or leaving the property in ruins. Most states have laws that require the property owner to pay interest on the security deposit, if the tenant complies with his or her part of the lease.
 

Eviction laws mandate that certain proceedings must take place in order to evict a tenant. Although laws differ from state to state, some such as non-payment of rent, lease violations, and expired or no lease are common. In the case of non-payment of rent, the proprietor must notify the tenant that rent is due in full by a certain date or the lease is terminated. For lease violations, the proprietor must allow time for the renter to correct the violation before evicting. If the lease is expired or there is no lease, the proprietor may evict at any time with written notice, typically 30 days.
 

Fair housing laws prohibit property owners from refusing to rent to individuals based upon race, religion, ethnicity, gender, disability, or family status. It is important that property owners and renters are aware of their rights and legal statutes.