Leases refer to contractual agreements between a lessor (property owner) and a lessee (tenant) that grants the lessee the right to use a property for a specified period of time in exchange for rental payments. Leases outline the terms and conditions, including the agreed-upon rent amount, duration of the lease, responsibilities of the lessor and lessee, and any additional provisions like maintenance or renewal options. They provide legal protection for both parties and serve as a binding contract that governs the rights and obligations involved in renting or leasing a property.
