Wyoming Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent

State:
Multi-State
Control #:
US-OL4A012A
Format:
Word; 
PDF
Instant download

Description

This office lease clause states that the amount of the security deposit shall be increased to reflect the increase in Base Rent. The Owner shall at all times have and maintain two full months' Base Rent as security.

How to fill out Clause Providing For The Periodic Increase In The Tenant Security To Reflect Increases In Base Rent?

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FAQ

Index Lease - A type of graduated lease in which the periodic rent increase are tied to increases in the consumer price index, or some other economic indicator.

In Wyoming, landlords can raise the rent by any amount and for any reason as long as they give proper notice, don't do so during the fixed term of a lease, and aren't doing so for certain discriminatory reasons.

In order to evict, a landlord must give the tenant three days' advance warning of the landlord's intention to start eviction proceedings. If the tenant fails to resolve the problem or voluntarily vacate the rental property, the landlord's next step is to serve a Summons and Complaint. Wyo. Stat.

Late Fees: There is no statutory limit on late fees in Wyoming. Landlords may adopt any reasonable late rent policy. Grace Period: There is no mandatory grace period in Wyoming. NSF/Bounced Check Fee Maximum: If the tenant's rent check bounces, the landlord may charge a fee of $30 (WS § 1-1-115(b)).

Wyo. Stat. § 1-21-1208. Return of Security Deposit: A landlord is required to return the remaining balance (without interest) of the security deposit within 30 days of the termination of the lease or eviction, or within 15 days of the tenant notifying the landlord of the tenant's new address, whichever is longer.

Wyoming Eviction Process Timeline Steps of the Eviction ProcessAverage TimelineIssuing an Official Notice3-30 daysIssuance and Service of Summons and Complaint3-12 days before the hearingCourt Hearing and JudgmentA few days to a few weeksIssuance of Writ of RestitutionA few hours to a few days1 more row ?

Rent ? Wyoming has no legal maximum for what a landlord may charge for rent. There is also no limit on the amount a landlord may raise the rent, and they are not required to give any notice. Wyoming does not limit how much a landlord may charge for a late fee.

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Wyoming Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent