A rental agreement or a lease agreement in Oregon and other American states is an essential document that two sides of the leasing deal have to complete and exchange. The two sides include the person or entity that transfers space for a while (referred to as the owner or the landlord), and the person or entity (the renter or the tenant) that gets it.
Every deal of renting space has peculiarities and conditions, including the renting price, the space description, information about the parties, and so on. A lease agreement is a document that contains all of those details.
It does not matter what kind of real property is leased. This agreement is highly important for both sides of the deal. To complete a rental agreement in Oregon, you can use our form building software to build and download the right template.
Every state in America has its requirements for lease agreements, and Oregon is not an exemption. In Oregon Revised Statutes, you may find the information needed for a rental agreement completion in Title 10 (Chapter 90). This section regulates the relations between the owner and the renter in Oregon.
Section 90.300 of the Oregon Revised Statutes (or ORS) prescribes that the owner has to give a full amount of security deposit to the renter within 31 days from the day the renter vacates the owner’s space.
Usually, the maximum amount of security deposit is stated by law. However, in Oregon, there are no limits, and the amount deposited is arbitrary.
Sometimes, the landlord needs to come to the rented space, and the visit is not tied to an emergency. In this case, in Oregon, the landlord should notify the renter at least 24 hours before arriving, as stated in Section 90.322 of the local law.
Closing of a rental deal in the US usually requires additional disclosures. There are at least nine disclosures that both the tenant and the owner should acknowledge:
There are various types of rental agreements depending on the kind of deal, from renting an office to leasing a house. Also, rules are different in every state, as we have mentioned before. Therefore, the template for a lease agreement is not unified in the US.
In Oregon, you may find no less than seven common types of rental agreements. The list contains a lease agreement that gives an opportunity to purchase the property, room lease agreement, agreement of sublease, commercial rent agreement, and other types.
Before you start the completion of a lease agreement, do not forget to carefully choose a template that is relevant for your case. Every type is different, so choosing the correct document will ensure your success.