An oral lease requires both parties to agree to specific terms. In most states, oral agreements require the parties to agree on:
- Duration of tenancy (no more than one year)
- Specified area of use and/or occupation
- Terms of Rent (amount, date due and method of payment)
- Specified occupants of rental property (roommates, children, pets, etc.)
- Terms of Security Deposit, if exists
- Use of amenities (appliances, furniture, parking spaces, etc.)
- Terms of Use of the property (business, residential, etc)
- Assigning responsibility for paying utilities
- Terms of landlord repairs and maintenance
Some terms and duties which are not agreed upon may be imposed by law.