Overview
Leases are the cornerstone of a successful landlord-tenant relationship, providing a legal framework for both parties to enter a harmonious agreement.
In Oklahoma, residential lease documents—including their structure, nature, and contents—are regulated by Oklahoma rental laws. For this reason, it’s imperative to understand the intricacies of the law before constructing a lease.
This guide will walk you through the crucial components of an Oklahoma lease, ensuring you’re well-equipped to make informed decisions. And to make your journey easier, we’re offering a free Oklahoma lease template for download!
An Oklahoma lease is a legally binding document that outlines the terms and conditions governing the rental of a residential property within the state. This lease adheres to Oklahoma rental laws, providing a clear framework for both landlords and tenants to follow and fostering a secure and transparent rental environment.
The following components should be included in every Oklahoma residential lease agreement. Note that these components primarily apply to residential leases; an Oklahoma commercial lease agreement will necessarily have different requirements.
Lease Term
This section specifies the lease’s start and end dates, establishing the duration of the rental agreement.
Rent
Here, you’ll find details regarding the rent rate, due date, and the status of rent control. In Oklahoma, rent control is banned—no city or county can pass a law that regulates or restricts the price of rent (OS § 11-14-101.1). This means landlords can set their own rent rates independent from any statutory restrictions.
Late Fees
The penalties for missing rent payments should be clearly stated in the lease, as should any exceptions. In Oklahoma, there are no statutory restrictions on late fees, and reasonable late fees are typically upheld by the courts. Likewise, there is no mandatory grace period in Oklahoma, meaning that landlords can charge late fees as soon as rent is late. Every Oklahoma residential lease agreement should clearly explain the landlord’s late fee policy so that tenants know exactly what will happen if they are late on rent.
Security Deposit
This section of the Oklahoma lease agreement includes details about the security deposit, including its amount, where it will be stored, and how/when it will be returned.
There is no maximum or limit for security deposits in Oklahoma. However, Oklahoma law does dictate that security deposits must be kept in escrow accounts maintained in Oklahoma with a federally insured financial institution (OS § 41-115(B)). Additionally, at the end of a tenancy, the deposit must be returned within 45 days of the lease’s termination (OS § 41-115(A)).
Oklahoma lease agreements should carefully explain the security deposit policy, including the amount, when/how it will be returned, and the conditions under which funds may be withheld from it.
Required Disclosures
This section encompasses crucial required disclosures, which are information that must be disclosed to the tenant in the lease before they agree to rent the property. In Oklahoma, the required disclosures are:
- Lead-based paint – Landlords in all 50 states must disclose lead-based paint hazards in rental agreements for most properties built before 1978.
- Landlord/agent identification – Landlords in Oklahoma must disclose the name and address of the owner, manager, or other person authorized to accept notices.
- Flooding – If an Oklahoma landlord knows that a unit has flooded within the past five years, they must disclose this information in the written rental agreement.
- Methamphetamine contamination – If a landlord in Oklahoma knows that a unit was previously used to manufacture methamphetamine and the contamination level is more than 0.1 mcg per 100 cm^2, they must disclose this to all prospective tenants.
Landlord Right to Entry
In Oklahoma, there are specific laws governing when a landlord can enter a rental property. Landlords in Oklahoma must provide at least 24 hours’ notice before entering an occupied unit for a non-emergency reason (OS § 41-128(C)). Additionally, landlords may only enter at reasonable times. Be sure to include the landlord’s right of entry in each Oklahoma residential lease agreement.
Repairs & Maintenance
The lease outlines how and when tenants should submit maintenance requests and clarifies the process for addressing necessary repairs. Every Oklahoma residential lease agreement should specify which maintenance responsibilities are the landlord’s and which are the tenant’s.
Lease Termination/Renewal Procedures
This section details the procedures for early lease termination and breaking the lease, including eviction processes. Specifically, the lease should clearly state how many days’ notice the tenant needs to provide the landlord to announce their intent to either renew or terminate the lease.
An Oklahoma residential lease agreement should also clearly describe what happens if the tenant breaks the lease. Before filing for eviction in Oklahoma, landlords must send eviction notices of specified lengths: A five-day pay or quit notice for nonpayment, a 15-day quit notice with ten days to cure for lease violations, or an immediate unconditional notice to quit for imminent and irremediable violations. These notice periods should be specified to the tenant so that both parties are clear on what will happen if the tenant fails to uphold the lease agreement.
Joint and Severability Clause
This clause is for leases with multiple roommates and explains the legal consequences if one party fails to fulfill their obligations. It ensures that the entire lease isn’t invalidated due to one roommate’s breach.
Signatures
Both the landlord and tenant will sign the lease either on paper or electronically, ensuring a secure and convenient process.
Oklahoma Lease Agreement Download
To make your leasing journey simpler, we offer a free, downloadable Oklahoma lease agreement. This template is tailored to meet the specific requirements of Oklahoma state law, making it a valuable tool for landlords and tenants.
Conclusion
Understanding the nuances of Oklahoma rental lease agreements is vital for a smooth and legal tenancy. We hope this guide has provided you with a clear understanding of the components of an Oklahoma lease. To get started on the right foot, download our free Oklahoma lease template and ensure a transparent, lawful, and satisfying rental experience.
