Need a Property Rentals Contract in Arkansas? AroundWire Can Help

In Arkansas, property rental contracts—covering both residential and commercial leases—are governed primarily by state statutes such as the Arkansas Residential Landlord-Tenant Act and the Uniform Residential Landlord and Tenant Act (for cities that have adopted it). Typical contracts must clearly define lease terms, rent amounts, security deposit conditions (with a legal cap of two months’ rent for residential deposits), maintenance responsibilities, and termination procedures. Arkansas does not require landlords to be licensed, but property managers handling rentals on behalf of others must hold a real estate license. Regulatory constraints include mandatory compliance with local building and safety codes, and non-discrimination provisions in line with federal fair housing laws. Common risk factors addressed in contracts include property damage, early termination, and default. Insurance obligations usually require landlords to maintain property insurance, while tenants may be asked to carry renter’s or liability insurance. Payment terms are generally monthly, with late payment penalties specified; Arkansas law does not mandate a grace period for late rent unless stipulated in the contract. Dispute resolution typically defaults to state court proceedings, as arbitration or mediation clauses are less common but permissible. Contracts should also specify procedures for notices and eviction, in compliance with state-required notice periods. Local practices often favor straightforward, written agreements to minimize ambiguity and legal exposure.