A Vermont rental agreement allows a person to occupy property from someone else legally. The tenant may have to submit his or her credit information if a background check is performed. If approved, a lease agreement will be issued and after signing keys and access to the premises will be granted. If either party has any questions about their rights they should read the Landlord-Tenant Handbook.
- Rental Application – Lets a potential tenant apply for housing from a landlord. Based on the tenant’s credit and references provided, he or she will be approved or disapproved in the following 2 to 3 business days. The landlord has every right to charge a fee and, if approved, the lease negotiations will begin followed by a contract being issued.
- Residential Lease – An arrangement for a fixed term of usually one (1) year. Although it may be any time frame as agreed upon by the parties. The landlord may request to view an application filled in with the potential tenants credentials for financial verification. The landlord will typically issue a blank lease and be sent to the new tenant for signature. Both parties should retain copies for their records and after all required deposits are made by the tenant will access to the property be granted.
- Commercial Lease – Contract to be used for the use of an owner of retail, industrial, office, or any type of space that a tenant may use for business purposes. Due to the amount of financial investment on behalf of both parties the term of the arrangement is typically longer than one (1) year and often allows for the option for renewals on behalf of the tenant. All entities should be verified as ‘Active’ with the Secretary of State’s Corporations Website.
- Security Deposits
- Limit – no statutory limit, landlord may request as much as desired
- Giving Back to Tenant – Landlord must return the deposit within fourteen (14) days after the end date
- Access by Landlord – Must provide at least forty-eight (48) before entering
- When is Rent Due – On the date as agreed upon in the contract