What is a lease?

A lease is defined as a legally binding rental agreement between a landlord and tenant. This contract outlines the specific terms and conditions regarding the rental of a property, including aspects such as the duration of the lease, the amount of rent, maintenance responsibilities, and any rules applicable to the property. Because it is a formal document recognized by law, it provides both parties with legal protections and obligations.

The legal nature of a lease means that both the tenant and the landlord must adhere to the terms agreed upon, and it can be enforced in a court of law. This makes it different from informal agreements, which lack the same level of commitment and enforceability. Additionally, a lease is distinct from property management guidelines, which typically provide operational protocols for managing properties rather than defining the rental relationship itself. Furthermore, it is not primarily a document used for eviction processes, as eviction requires separate legal proceedings based on breaches of the lease or tenancy laws.