Rental lease

A rental lease is a legal contract between a property owner (landlord) and a tenant that details the terms under which the tenant is allowed to occupy and use the property. It covers aspects like lease duration, rent amount, payment schedule, and responsibilities for property maintenance.

Context

The rental lease is crucial for setting clear expectations for both landlords and tenants. It outlines rights and obligations, preventing potential disputes. Rental leases vary depending on the type of property: for example, residential leases typically range from 6 to 12 months, while commercial leases can last anywhere from 3 to 10 years, depending on the nature of the business and the property type. Shorter leases might be seen in student housing (9-month leases) or vacation rentals (weekly or monthly terms).