Leases contains the obligations of renters and landlords.
Explanation:
This agreement is an extremely essential legal document that states the obligations of the landlords and the tenants. It includes the name of the property and who it belongs to and to whom it has been rented out. It also states the specific period of time for which the property has been rented out to the tenant.
The period is mentioned with exact dates and not vaguely. It also contains a clause stating the exact amount of rent and the due date of each month by which it has to be paid. The security deposit terms along with the tenant's responsibilities of maintaining the property is also described under the same. Lastly, it will also contain within it, the signatures of both parties.
