Arkansas Residential Lease Agreement Form
Unlike other states, there is only one mandatory disclosure in Arkansas:
Lead-Based Paint Disclosure Rule
This disclosure is based on the federal law that landlords with homes built before 1978 must inform the tenant of the dangers of lead-based paint. (Lead-Based Paint Hazard Reduction Act of 1992 § 1018).
Rent Grace Period
Arkansas statutes dictate that a tenant has five days from the due date to pay rent before the landlord can make an early termination of the rental agreement. (AR Code § 18-17-701 (b)).
Rent is usually due every first of the month, which means the tenant has until the sixth of the month to pay rent. However, there is no statute on late fees, unless it was previously stated in the Arkansas residential lease agreement form.
A security deposit is a sum of money that a landlord may require from the tenant at the start of their tenancy. It is refundable at the end of the tenancy but only if there is no damage to the property or unpaid rent.
The maximum security deposit a landlord can collect in Arkansas is two months’ worth of rent (AR Code § 18-16-304). For example, this means that if the monthly rent is $600, the security deposit cannot be more than $1,200. At the end of the tenancy or when both parties agree to break the residential agreement, the landlord has 60 days to return the security deposit to the tenant.
The landlord can do a walkthrough of the property to inspect for damage. If repairs are required, the cost can be deducted from the security deposit. Any balance from the security deposit must be returned within two months. If there are any deductions, the landlord must provide the tenant with an itemized list of repairs and how much they cost.
If necessary, the landlord can withhold the entire security deposit due to unpaid rent and/or the substantial cost of repairs.