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What is a Lease Agreement?
A Lease Agreement is a contract that outlines the terms of renting property, including what you will be responsible for as a landlord or tenant, and what actions you’ll take if the lease is not followed. Lease Agreements help protect the property, the “lessor” (the property owner or landlord), and the “lessee” (the tenant).
When can you use a Lease Agreement?
- You’re a property owner leasing residential property to a tenant.
- You’re a homeowner, and you want to rent a room in your home to a tenant.
- You’re a prospective tenant, and you want to lease residential or commercial property from a landlord who doesn’t have a lease form.