Residential leasing is typically the term used to describe the renting of houses and apartments between landlords and tenants. Residential leases in Ohio are governed by a large number of detailed requirements. The list of requirements is extensive, especially for landlords.
Even if all requirements of a rental agreement are satisfied, the law allows judges to declare almost any part of a lease invalid if the Judge decides that the decision in question was unconscionable.
Every business should be prepared for when the current leader or leaders leave, for whatever reason. Proper planning allows a business to retain it’s industry experience, despite losing top personnel.
Many landlords and tenants could benefit from better farmland leases. Sometimes, the seemingly simple act of defining each party may be more complex than one assumes.
More complicated agreements such as “hybrid leases,” which contain elements of cash rent and crop-share, rely on formulating payments based on yield and crop prices. Other basic items such as lease duration or payment schedule could create pitfalls if both parties have not clearly established them. A good farmland lease will address these concerns, among others.
Ohio rental laws are very strict, and generally very protective of tenants. This is the reason security deposits are often required.
A landlord can legally request a security deposit of any size. However, if the tenant stays for more than six months, interest must be paid on any amount that is higher than one month’s rent.