Wyoming Residential Lease Agreement Form
A Wyoming lease agreement must include some standard disclosures to comply with state and federal laws:
- Lead-Based Paint Disclosure -Under federal law, landlords leasing houses built before 1978 must disclose any known lead-based paint hazards in the rental property (Lead-Based Paint Hazard Reduction Act of 1992 § 1018).
- Megan's Law Disclosure - Landlords must inform tenants if the property lies within 750 feet of the location of a registered sex offender without revealing the offender's identity or address (Wyoming Sex Offender Registry).
- Security Deposit Disclosure - Landlords must provide tenants with written notice of the terms and conditions regarding the use of a security deposit (WY Stat § 1-21-1208).
Rent Grace Period
A rent grace period is a specified number of days a tenant must pay rent after the due date without incurring any late fees or penalties.
Wyoming law does not require landlords to provide a rent grace period. So, if rent is due on the first day of the month, the landlord can charge a late fee on the second day of the month if payment is not received.
It is important to note that the landlord must include any late fees in the lease agreement. Tenants must pay rent on time to avoid late fees or eliminate room for legal proceedings against them.
In Wyoming, landlords can charge a security deposit equal to one month's rent. This deposit protects the landlord from any damage that occurs during the tenant's occupancy.
The security deposit must be returned to the tenant within 30 days of the end of the lease, minus deductions for unpaid rent or damages. If the landlord withholds any portion of the security deposit, they must provide a written explanation of the deductions.
Wyoming law does not specify interest requirements for security deposits. This means landlords are not required to pay any interest on the security deposit or keep the deposit in a separate account. However, landlords must keep it in a safe and secure place and return it to the tenant at the end of the lease.
Renters must also be aware that the security deposit is not meant to be used as the final month's rent. This means that a tenant cannot withhold the last month's rent and instead use the security deposit to cover the cost. Doing so would violate the terms of the lease agreement, and the landlord may take legal action to recover the unpaid rent.
If the landlord does not return the security deposit within 30 days of the end of the lease, thereby breaking the agreement, the tenant may take legal action to recover the deposit. In such cases, the tenant may be entitled to recover up to twice the security deposit amount, as well as reasonable attorney's fees (WY Stat § 1-21-1207, 1208).