What is some of the most important information for a new landlord in New Hampshire to know? As with any state, researching the relevant real estate laws in the area is crucial to your success as a landlord. Below, you’ll find general rental law information that every New Hampshire landlord should know.
In all 50 states, there are certain requirements for landlords to disclose information about their property to its incoming tenants. In New Hampshire, landlords must give their tenants a signed receipt stating where their security deposit will be held. However, if the tenant writes a personal check, bank check, or a government/nonprofit agency check, the landlord does not have to provide one.
Additionally, landlords must make a list of any aspects of the rental unit that need repairs and deliver that to the tenant within five days of the start of their occupancy.
Rent and Fees
New Hampshire rental laws don’t specify when rent is due, so landlords should specify the due date on their lease agreement. Rental application fees are not regulated and there is no statewide New Hampshire rent control, which means that landlords can largely use their own judgment to set application fee and rental rates.
There is also no limit on late fees in New Hampshire, but generally, a standard late rent fee is around 5% of monthly rent. Late fees apply after any grace periods that you provide in your lease agreements, although New Hampshire state law does not mandate that you provide one.
If a tenant pays rent with a check that bounces, the landlord can charge the tenant the amount of that check plus any fees incurred to the landlord from the financial institution they paid it to.
Tenants also have remedies under the law. If a tenant in New Hampshire is experiencing violations of health or safety due to the landlord’s failure to maintain the premises, the tenant can withhold rent. The tenant must first give their landlord the proper written notice and wait at least two weeks for the landlord to fix the problem.
Eviction laws in New Hampshire ensure that both tenants and landlords are treated fairly in eviction situations.
If a tenant is late on their rent payment, they have seven days after their landlord posts a rent demand notice to either pay or quit the unit.
Tenants who violate terms of their lease have 30 days to vacate the premises after their landlord posts a notice. Landlords don’t need to offer the opportunity for the tenant to remedy the issue.
Lastly, if the tenant causes extensive damages to the premises or threatens the health or safety of the people around them, the landlord can serve them an unconditional notice to quit. After this notice is issued, the tenant has seven days to quit the property, with no opportunity to cure the breach.
As a landlord, it’s important to collect security deposits so you have access to funds to cover any outstanding rent or repair any damages your tenant inflicted to the unit beyond normal wear and tear. Some breaches of your New Hampshire lease agreement are also grounds for a deduction from the security deposit. However, you’ve performed a thorough move-out inspection and identified such breaches or damages, you must treat that amount as if it’s going to be returned in full. All states have rules dictating how landlords should handle security deposits so that tenants are treated fairly in this process.
Landlords in New Hampshire can charge either $100- or one -months’ rent for their deposit amount, whichever amount is greater. These funds are required to be kept in a separate bank account from the landlord’s personal funds, and any deductions at the end of the tenancy must be itemized and sent to the tenant alongside the remainder of their deposit within 30 days after move-out
Landlords must also pay interest on security deposits. The amount of interest should equal the rate paid on regular savings accounts in the New Hampshire bank, savings and loan association, or credit union in which it is deposited. The tenant can collect the accrued interest every three years, 30 days before their tenancy for that year expires.
New Hampshire landlord tenant laws keep both landlords and their renters safe. Being a landlord comes with its own set of responsibilities to make sure that tenants are protected, but tenants also have a responsibility to treat your space with respect. When you have questions regarding your state’s laws, consult another trusted landlord or real estate attorney to help you.