Oklahoma Standard Residential Lease Agreement
An Oklahoma Standard Residential Lease Agreement is a property management form that assigns rules and conditions to rent an apartment or home for one (1) year. The contract refers to the renter as the “lessee” and the landlord as the “lessor.” Before signing, the parties discuss each document section to ensure the lessee(s) fully understand and agree with each condition. They also negotiate rent prices, the agreement’s terms, and utility details if necessary.
Tenant Screening: Oklahoma Rental Application
Laws: Title 41
Maximum Security Deposit: No limit.
Permitted Use of the Deposit (41 § 115(B)): Landlords can make deductions from the security deposit for two (2) reasons:
- To cover the cost of any unpaid rent, and
- To pay for repairs to the property that resulted from the tenant not complying with the lease and/or Oklahoma law.
Returning Security Deposits (41 § 115(B)):
After the rental agreement terminates, landlords have forty-five (45) days to return the deposit with or without deductions. Tenants must make a written request to the landlord for the money. If the landlord does not receive a request within six (6) months of the agreement’s end, they can keep total amount.
Rent Increase Notice: No specific time period.