Product Description
A lease agreement is a written document that officially recognizes a legally binding relationship between two parties — a landlord and a tenant. This page covers residential agreements — click the following link if you’re looking for information about commercial lease agreements.
A simple residential lease agreement in writing will identify the following basic elements:
- Premises: a house, apartment, condo, basement, or attic
- Landlord: the owner of the Premise, aka “Lessor”
- Tenant: renter who wants to live in the Premises, aka “Lessee”
- Rent: amount of money paid by the Tenant to the Landlord
- Term: length of time the Tenant has the right to stay on the Premises
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