- A contact between a tenant and landlord that specifies each party's rights and obligations in their rental arrangement. Items often included in rental agreement include the size and frequency of rental payments, limits on the length of the lease, and rules about use of the rental property. Also known as a "tenancy agreement," or a "renter's agreement."
renter's agreement, tenancy agreement
Related Terms and Acronyms
- Emergency Equipment Rental Agreement (EERA) — Acronym,
- Eviction — Definition,
- The act of kicking someone out of a property, usually for violating terms of a lease.
- Landlord — Definition,
- One who rents or leases his or her property to another person or a business.
- Lease (lse) — Abbreviation,
- A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
- Lessee — Definition,
- The person who signs a lease.
- Lessor — Definition,
- The person who grants a lease.
- Rent — Definition,
- When one party pays another for the use of an asset, service or property.
- Rent-to-Own (RTO) — Acronym,
- An agreement to purchase an asset after a series of rental payments.
- Rental Property (RP) — Acronym, Important,
- Property that is occupied by rent-paying tenants and not the owner.
- Sublet — Definition,
- An arrangement where a tenant leases property to a subtenant.
- Tenant — Definition,
- One who rents property.