Alaska Rental Lease Agreements
The Alaska Rental Lease Agreements are contracts that are used when one (1) party (the Landlord) wishes to rent their House, Apartment, Room, Basement, Office, or other residential or commercial property to a second (2nd) party, typically called the Tenant (or Subtenant). Although each contract is different in certain ways, they typically contain the following provisions such as monthly rent, term of the lease, and the obligations of both parties.
It is highly recommended that any edited or newly issued agreement is approved by a licensed attorney before signatures are recorded.
Types of Agreements
Commercial Lease Agreement – For leasing a property that will be used for business purposes.
Lease to Own Agreement – A lease that gives the tenant the option to purchase the property at the end of the lease term.
Month-to-Month Lease Agreement – Does not have a set end date – needs to be renewed every thirty (30) days.
Roommate Agreement – Signed by tenants living within the same rented property; covers non-legal tasks such as cleaning and guest policy.
Standard Residential Lease Agreement – For leasing a property with the time span of one (1) year.
Sublease Agreement – Gives tenants that have already committed to a lease the option to have another party live and pay rent in the property.
What is an Alaska Lease Agreement?
An Alaska Lease Agreement is a legally binding contract between a Landlord and a Tenant that is used to ensure the Tenant pays on time, keeps the property in good condition, follows the other conditions listed therein as well as and upholds that the obligations of the Landlord are adhered to. To help ensure the landlord only accepts qualified tenants, we recommend downloading a rental application.
State Definition (AS 34.03.360) – “means all agreements, written or oral, and valid rules and regulations adopted under AS 34.03.130 embodying the terms and conditions concerning the use and occupancy of a dwelling unit and premises”
When is Rent Due?
According to AS 34.03.020, unless explicitly stated in the agreement, rent is payable at the beginning of the term (if less than one (1) month-long terms) and otherwise in monthly payments. It should be due on the same day every month.
Emergency (AS 34.03.140(b)) – Landlord may access the premises with no notice to the tenant.
Non-Emergency (AS 34.03.140(c)) – Landlord must give at least twenty-four (24) hours notice to the tenant for any inspection, repair, or to show the property to another prospective tenant.
Extended Absence (AS 34.03.150) – Unless otherwise agreed, the tenant is to notify the landlord if they should not be on the premises for a period lasting more than seven (7) days.
Landlord Identification (AS 34.03.080) – Landlord is required to detail in the rental agreement (1) the name of the individual authorized to manage the property, if not the landlord (2) name of the individual authorized to act in the presence of the landlord for sending and receiving notices and (3) that the information must be kept current and if any change should occur that the tenant is to be made aware of such change.
Security Deposit Laws
Maximum (AS 34.03.070(a)) – The landlord may not accept a security deposit that is greater than two (2) months’ rent. If the monthly rent is more than two thousand dollars ($2,000) then there is no limit to the deposit amount.
Returning to Tenant (AS 34.03.070(g)) – The landlord is required to refund the deposit at the end of tenancy within fourteen (14) days after termination and possession has been delivered by the tenant.