Extract Data From Legal Delaware Commercial Leases Forms For Free

A written lease agreement must contain: The names and addresses of both parties; The description of the property; The rental amount and reasonable escalation; The frequency of rental payments, i.e. monthly; The amount of the deposit; The lease period; The notice period for termination of contract;

Tenants may withhold rent or exercise the right to "repair and deduct" if a landlord fails to take care of important repairs, such as a broken heater. For specifics, see Delaware Tenant Rights to Withhold Rent or "Repair and Deduct".

term lease might only have a term of 1 to 5 years, meaning it naturally has a lower total rent value than a 10 to 20 year lease. If the rent is a market rent (and there is no premium), then a shortterm arrangement may mean you pay less stamp duty land tax after you sign the lease.

§ 5514. Security deposit. (a) (1) A landlord may require the payment of security deposit. (2) No landlord may require a security deposit in excess of 1 month's rent where the rental agreement is for 1 year or more.

(c) Subject to the provisions of § 5512 of this title, the landlord may terminate any rental agreement, other than month-to-month agreements, by giving a minimum of 60 days' written notice to the tenant prior to the expiration of the term of the rental agreement.

Delaware landlords cannot raise rent during the lease term unless the lease agreement allows for it. Additionally, if the rental property is a mobile home, rent increases are limited to once per year. Landlords must provide 60 days' notice before raising rent, and for mobile homes, a 90-day notice is required.