Arkansas Standard Residential Lease Agreement
The Arkansas Standard Residential Lease Agreement is a form used for establishing structure for the renting of a home or apartment unit. As such it includes specific rights and responsibilities of landlords and tenants. It also lists the specific actions that a landlord or tenant can take if the agreement is breached. The landlord (or his or her lawyer) usually drafts and reviews this contract to ensure it addresses anticipated and unanticipated circumstances. The tenants should always read through it thoroughly before signing to ensure they agree on the terms and conditions.
Tenant Screening: Arkansas Rental Application
Maximum Security Deposit: (§ 18-16-304) Under no circumstances can a landlord force a tenant to provide a security deposit of any kind in any amount exceeding two (2) months’ rent.
Returning Security Deposits: (§ 18-16-305) Once the tenancy ends, the landlord has sixty (60) days in which to return any type of security deposit to the tenant. If applicable, the amount refunded will reflect deductions of funds used to cover unpaid rent, property damage or other incidentals directly related to prohibited tenant conduct. In such circumstances, the landlord must also provide the tenant with a written list specifying the damages and deductions.