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Residential Lease Information

Alternate Names:

A Residential Lease is sometimes called a:

  • House Rental Agreement
  • Lease Agreement
  • Lease Form
  • Rental Contract

What is a Residential Lease?

A Residential Lease agreement is a form that both the tenant(s) and landlord(s) negotiate and sign when the tenant will be renting property from the landlord. The Lease includes property, tenant, and landlord details.

The Lease also covers:

  • The term or length of the contract (fixed or periodic)
  • The amount and frequency of rent
  • Whether there can be rent increases
  • If tenants are allowed to smoke, have pets, or a home business
  • The amount of security/damage deposit, charges for late payments, additional charges (such as utilities)
  • The maintenance and insurance obligations
  • Any signing incentives
  • The guest rules
  • An option to purchase
  • An option to renew

Both the tenant and the landlord should keep a copy of the signed agreement for their records.

What can I use a Residential Lease for?

You can use this Rental Contract for any type of residential property rental, including:

  • House
  • Apartment
  • Condo
  • Mobile Home
  • Basement Suite
  • Duplex
  • Townhouse
  • Room
  • Other living spaces
  • Rent-to-own options

Who needs a Residential Lease Agreement?

When entering into any type of residential rental circumstance you should ensure that you have a valid contract to outline your rights and responsibilities as a landlord or a tenant. People who may find this form useful are:

  • Homeowners looking for tenants
  • Tenants looking for a home to rent
  • Landlords, property managers, and tenant placement services
  • Individuals renting residential property to family and/or friends
  • Tenants or landlords looking to rent a property with the option to buy

Can I rent-to-own?

A common form of a rent-to-own agreement is a rental contract with an option to purchase or buy. An option to purchase gives the tenant the chance to buy the home for a certain price within a certain period of time.

This form of agreement is used where a landlord wishes to sell a home but the potential tenant either has a negative credit rating or can't save a large enough deposit for a lender-based mortgage.

The tenant(s) pay a non-refundable option fee and in return the landlord provides the renter an option to purchase the home at a predetermined price. If the tenant decides not to purchase the property, the landlord keeps the option fee or deposit.

Forms Related to a Residential Lease:

  • Residential Rental Inspection Report: used by landlords and tenants to inspect the state of a rental property before and after tenancy to assess any damages
  • Residential Rental Application: a document used by landlords to screen potential tenants for a rental property
  • Roommate Agreement: an agreement that details responsibilities and obligations of people who are living together
  • Commercial Lease Agreement: a contract that details the rights, duties, and responsibilities of business tenants who are leasing commercial space from a landlord
  • Residential Sublease Agreement: used by a tenant to sublease a residential property to a new tenant before the current tenant's lease has expired
  • Personal Property Rental Agreement: used to rent personal property to, or from, another person
  • Eviction and Lease Notices: forms for both landlords and tenants such as Eviction Notice, Notice of Lease Violation, Notice to Increase Rent, Notice of Termination, Demand for Compliance or Possession, Notice to Pay Rent, Notice to Repair, and Notice of Intent to Vacate

Frequently Asked Questions:

Residential Lease Agreement FAQ
Sample Residential Lease


Residential Lease Agreement

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