The Wyoming Standard One (1) Year Lease Agreement is one of, if not the, most common examples of a long term lease. Unlike a Month to Month Lease, this kind of lease cannot be altered or terminated until the end of the year, unless a provision in the lease itself allows for it. This sacrifices a degree of flexibility in exchange for long term security.
Even more than other leases, both landlord and tenant should be exceptionally sure before signing this kind of lease. If the tenant is forced to leave the property before the lease has terminated, they may be financially responsible for the rent until the lease has terminated or until the landlord finds a new tenant, and if the landlord is forced to evict then it might destroy the tenant’s chances of getting another long term lease in the future. The tenant will usually be required to complete the Rental Application form, and if either landlord or tenant is unsure they may wish to consider a Month to Month Lease instead.
As they are a common form of long term lease, One Year Leases are subject to all of the laws concerning leases. All of Wyoming’s Lease Laws can be found in the Wyoming State Code, Title 1-21-1201 to 1-21-1211.
- If any portion of the security deposit is nonrefundable (due to pets, for example) the landlord is required to disclose this before the tenant signs the lease.
- Federal law requires that the landlord disclose the presence of any lead paint based hazards on or around the property.