A lease agreement is a legal document between a landlord and a tenant who rents property to a tenant, for a fixed or periodic tenancy, in exchange for payment. [1] Both parties must fulfill their responsibilities under the lease until the end of the rental period.
To lease something is to borrow it in exchange for money. If you lease a car from a dealer, for example, you make payments and you get to drive the car, but at the end of the contract you have to give it back.
People lease cars because the warranty is always intact, they get to upgrade to a brand-new vehicle every few years and the monthly payments are typically lower. The tradeoffs are that they have to ...
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For professional help, it’s best to hire a landlord & tenant attorney to draft a lease agreement for your property. If you wish to rent out your property yourself and would like to draft your own lease agreement, follow the steps below.
The meaning of LEASE is a contract by which one conveys real estate, equipment, or facilities for a specified term and for a specified rent; also : the act of such conveyance or the term for which it is made.
LEASE definition: 1. to make a legal agreement by which money is paid in order to use land, a building, a vehicle, or…. Learn more.
Free 1-page rental agreement form containing only basic lease terms and conditions. Simple, printable and easy to fill as a PDF or Word doc.