A residential lease agreement in Memphis is a binding document between a landlord and a tenant. This agreement outlines the terms and conditions surrounding the use of a rental property in exchange for payment.
Memphis has no city-specific residential lease agreement requirements or disclosures. As such, landlords and tenants in Memphis follow Tennessee requirements for lease agreements .
The City of Memphis administers a program called the Affordable Rental Development Program . This program works with non-profit housing developers to create safe and affordable high-quality rental units for tenants in Memphis.
While not mandatory, landlords can add specific disclosures and addendums to their leases. This helps outline the responsibilities of the tenant and can prevent future liability issues.
Due to Memphis having one of the highest crime rates in the U.S., it would be in the landlord’s best interest to include an addendum stating that engaging in criminal activity, including drug-related activity, is prohibited on or near the property.
Due to the humid climate in Memphis, landlords may want to include a mold addendum . This will prevent landlords from being liable for future mold-related damage.
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