North Carolina Landlord and Tenant Law
Brokers who manage or lease residential property must follow North Carolina's landlord-tenant statutes. This topic covers security deposits and the basic obligations that govern residential rentals.
The Tenant Security Deposit Act
North Carolina's Tenant Security Deposit Act requires residential landlords to hold deposits in a trust account at a licensed North Carolina bank or to post a bond. The statute limits the amount that may be charged based on the length of the tenancy and lists the permissible reasons for deductions. After the tenancy ends, the landlord must provide an itemized accounting of any deductions within the statutory time frame. The deposit remains the tenant's money held in trust rather than additional rent.
Landlord Duties and Evictions
North Carolina landlords must comply with the residential rental agreements statute, which requires keeping the premises fit and habitable and making necessary repairs. Tenants in turn must not damage the property and must pay rent as agreed. A landlord who wishes to remove a tenant must use the lawful summary ejectment process through the courts rather than self-help lockouts. Following these procedures protects both parties and keeps the broker's property management practice lawful.