Wisconsin Residential Rental Contract
The Wisconsin Residential Rental Contract (“lease agreement”) is a form used by those that manage one (1) or more rental properties for setting a series of rules in regards to the renting of a room, home, or apartment. Once signed, the tenants are legally required to follow the terms and conditions contained in the form until the end-date as listed in the form. Topics include rent payments, guests, utilities, pets, and the landlord’s policy on pets.
Despite being an official form drafted by real estate agents, it should be edited if any of the included sections do not align with the preferences of the landlord. In such cases, an editing software (both free and paid PDF applications can be found online) can be used to alter the fields until complete. For those editing the form, it is imperative they do not alter the form to the point that it does not comply with § 706.02 (“Formal Requisites”).
Tenant Screening: Wisconsin Rental Application
State Laws & Resources
Laws: Ch. 704 (“Landlord and Tenant”)
Maximum Security Deposit (§ 134.06): A landlord may set a security deposit amount of his or her choosing, as state law does not mandate an upper limit. According to § 134.02(11), in order for a deposit to be considered a “security deposit,” it must be greater than one (1) months’ rent. Landlords should only require deposits that are justifiable. For furnished properties and/or for cases where tenants have one (1) or more pets, requiring prepaid deposits equal to two (2) or more months is reasonable.
Returning Security Deposits (§ 134.06(2)): Security deposits need to be returned within twenty-one (21) days after the lease has ended.