Overview
Leases are the cornerstone of a successful landlord-tenant relationship, providing a legal framework for both parties to enter a harmonious agreement.
In Wyoming, residential lease documents—including their structure, nature, and contents—are regulated by Wyoming landlord tenant 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 a Wyoming lease, ensuring you’re well-equipped to make informed decisions. And to make your journey easier, we’re offering a free Wyoming lease template for download!
A Wyoming lease is a legally binding document that outlines the terms and conditions governing the rental of a residential property within the state. This lease must adhere to Wyoming’s landlord-tenant 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 Wyoming rental agreement. Keep in mind that these components apply primarily to residential leases; a Wyoming 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 Wyoming, there are no statewide rent control laws. This means landlords can choose their own rental rates according to current market prices. However, keep in mind that individual cities or counties in Wyoming may have laws that regulate or restrict the price of rent. Be sure you know which laws apply in your region.
Late Fees
The penalties for missing rent payments should be clearly stated in the lease, as should any exceptions. In Wyoming, there are no statutory limits on late fees, nor is there a mandatory grace period. This means landlords can once again choose their own fee amounts, as long as they are reasonable (5% of the amount due is a common late fee amount). Be sure to clearly describe the late fee policy in every Wyoming rental agreement.
Security Deposit
This section of the lease includes details about the security deposit, including its amount, where it will be stored, and how/when it will be returned.
According to Wyoming landlord tenant law, there is no maximum or limit for security deposits in Wyoming. However, landlords in this state are required to return security deposits to tenants (minus any deductions) within 30 days of the lease’s termination. However, if there is damage to the rental unit, this period is extended to 60 days (WS § 1-21-1208(a)). Utility deposits must be returned within ten days of confirming that the Wyoming tenant paid all utility charges.
All Wyoming rental lease agreements should include a thorough explanation of the landlord’s security deposit policy, including the amount of the deposit, how/when it will be returned, and the conditions under which funds may be withheld from it.
Required Disclosures
This section encompasses crucial required disclosures in Wyoming, which are information that must be disclosed to the tenant in the lease before they agree to rent the property. In Wyoming, 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.
- Nonrefundable fees – Wyoming landlords must disclose in writing any nonrefundable fees or deposits they charge in the lease agreement by Wyoming law.
Landlord Right to Entry
There is no specific Wyoming law governing when Wyoming landlords can enter a rental property. Landlords are not required to give any specific amount of advanced notice before entering; however, most landlords provide at least 24 hours’ notice. Be sure to include the landlord’s right of entry in your Wyoming rental agreements.
Repairs & Maintenance
The lease outlines how and when tenants should submit maintenance requests and clarifies the process for addressing necessary repairs. Every Wyoming residential lease agreement should specify which maintenance responsibilities are the landlord’s and which are the tenant’s as per Wyoming landlord tenant laws.
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.
A Wyoming residential lease agreement should also clearly describe what happens if the tenant breaks the lease. Before filing for eviction in Wyoming for any reason, landlords must send a three-day notice to cure or quit. This notice period 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 compliant with Wyoming state law.
Wyoming Lease Agreement Template Download
To make your leasing journey simpler, we offer a free, downloadable Wyoming rental agreement. This template is tailored to meet the specific requirements of Wyoming state law, making it a valuable tool for landlords and tenants.
Conclusion
Understanding the nuances of a Wyoming residential lease agreement is vital for a smooth and legal tenancy. We hope this guide has provided you with a clear understanding of the components of a Wyoming lease according to Wyoming landlord tenant law. To get started on the right foot, download our free Wyoming lease template and ensure a transparent, lawful, and satisfying rental experience.
