A Wisconsin lease agreement is a contract between a landlord and tenant that defines the rental terms for a residential or commercial tenancy. Before signing a rental agreement, the tenant and landlord will discuss the length of the term, the rent amount, security deposit requirements, rules of the property, and the obligations of both parties.
A Wisconsin lease agreement is a contract between a landlord and tenant that defines the rental terms for a residential or commercial tenancy. Before signing a rental agreement, the tenant and landlord will discuss the length of the term, the rent amount, security deposit requirements, rules of the property, and the obligations of both parties.
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A Wisconsin lease agreement is a contract between a landlord and tenant that defines the rental terms for a residential or commercial tenancy. Before signing a rental agreement, the tenant and landlord will discuss the length of the term, the rent amount, security deposit requirements, rules of the property, and the obligations of both parties.
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Rental Application – A form filled out by lease applicants that provides landlords with contact information, rental history, and consent for a background check.
Maximum Amount ($) – State law does not set a maximum amount for security deposits.
Collecting Interest – There are no legal requirements for collecting interest on security deposits in Wisconsin.
Returning to Tenant – Security deposits must be returned to tenants within 21 days of the termination of the rental agreement. [6]
Itemized List Required? – Yes, if any amount of the tenant’s security deposit is withheld for damages, the landlord must send a list of all damages and the amount withheld. [7]
Separate Bank Account? -Nothing in the state statutes requires landlords to keep security deposits in a separate bank account.
General Access – Landlords are permitted to access the rental property to perform their various duties during reasonable hours and with at least 12 hours’ notice. [8]
Immediate Access – Landlords can enter the premises without notice for emergencies or if the tenant is absent and immediate access is necessary to protect the property from damage. [9]
Grace Period – There is no rent grace period established in state statutes.
Maximum Late Fee ($) – Landlords may only charge a late fee if it is mentioned in the rental agreement, but state law does not set a maximum amount. [10]
Withholding Rent – Tenants can take certain actions if the landlord fails to maintain the habitability of the premises, but they may not withhold rent. [11]
Non-Payment of Rent – Landlords can use a 5-day notice to pay or quit when a tenant is late paying rent. [12]
Non-Compliance – When a tenant fails to comply with the lease, landlords can serve a 5-day notice to comply or quit. [13]
Lockouts – Landlords may not prevent a tenant from accessing their rental property except through a legal eviction process. [14]
Leaving Before the End Date – If the tenant leaves before the lease has terminated and still owes rent, the landlord can recover rent and damages. [15]
Month-to-Month – Monthly tenancies can be terminated by either party as long as 28 days’ notice is provided. [17]
Unclaimed Property – Any of the tenant’s unclaimed property can be assumed by the landlord to be abandoned and may be disposed of as they see fit. [18]
