Lease

A lease is the common term for a Residential Tenancy Agreement.

A lease is normally in writing and signed by both the tenant and the property manager or landlord. All tenancy agreements are legal contracts, including verbal agreements. The lease states the terms of the agreement such as how long the tenancy is for, what is the agreed weekly rent and when it is to be paid.  It also states both the landlord’s and the tenant’s obligations in relation to maintaining the property and who is responsible for any costs relating to damage.