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What Is A Rental Agreement?

A lease rental agreement is an agreement between a landlord and a tenant which gives the right to use and occupy rental property for a period of time. A lease can be an oral agreement or it can be in writing. If the lease extends beyond one year, most states require that it be in writing. At the end of the lease, use and possession of rental property must be returned to the landlord. In addition to other responsibilities, a lease requires the tenant to pay the landlord a specified amount of money each month, which is called rent.

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