A Kentucky residential lease agreement is between a landlord and a tenant for the renting of property for monthly rent and other obligations. Depending on the terms of the agreement, the landlord and tenant will be required to negotiate the following :
The landlord may ask to see the tenant’s credit information through a rental application and once he or she has been verified and approved, an agreement may be created and ready to sign. Upon the lease signing, the tenant will need to bring any and all deposits to gain immediate access to the property.
Kentucky Real Estate Commission (KREC) Lease Agreement
Maximum Amount ($) – There is no state limit on the amount a landlord can charge their tenants for a security deposit.
Returning – Security deposits must be returned within sixty (60) days of the lease termination date (§ 383.580(6)).
Lead-Based Paint Disclosure – If the building was made before January 1, 1978, the tenant must initial this document that acknowledges the possible presence of lead-based paint on the premises.
Authorized Access – The landlord is required to describe any individuals that are allowed onto the property including the owner, building manager, and agents in the lease agreement (§ 383.585).
Move in/Move Out Checklist – Before the tenant moves in, they must visit the property with the landlord and mark any property defects or sign a document stating that they wish to waive this right (§ 383.580).
Security Deposit Location – If there is a security deposit, state law requires the landlord to disclose where the deposit is being held, along with the bank account number (§ 383.580).
Kentucky has no grace periods for rent payments. Rent must be paid at the exact time and place stated within the rental agreement (§ 383.565(2)).
