A North Dakota standard residential lease agreement is a written document that records the terms governing a rental arrangement between a landlord and their tenant. Information regarding rental costs and security deposits are often prioritized when completing a leasing contract. However, any additional terms may be included at the discretion of each party. Prior to entering a formal understanding, each party can negotiate for their desired terms — which, in some cases, may result in the landlord agreeing to lower rental costs or waiving a security deposit. Each party should perform due diligence before signing a lease into effect. For instance, the tenant can visit the property and conduct a walkthrough inspection to ensure the premises is as advertised. In contrast, the landlord can vet their potential tenant through a background check. Both parties must sign the lease into effect upon reaching a mutual understanding.
Handbook – Landlord and Tenant Rights in North Dakota
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