Basic rental agreement or residential lease
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A lease is a contract between landlords who rents out a property to a tenant in exchange for monthly payments. The first month's rent and security deposit are usually required when entering into a tenancy agreement. After execution, the lessee gains access to the object (occupation) and the contract is legally binding until its end date
A tenancy and lease agreement is a document that describes the arrangement between an owner of real property, known as a "landlord" or "lessor", and another person who is willing to pay rent while occupying the property, known as the "tenant". In simple terms, it is a document used to occupy a space (commercial or residential) for a given period in exchange for monthly rent. The terms of the contract are negotiable between the tenant and the landlord and once signed the form is considered legally and mutually binding.
