A lease is a binding contract that lays out the conditions and responsibilities of a rental agreement, for both the owner and the renter. It includes the monthly rental price, payment due date, the length of the lease and terms for what happens if one of you breaks the lease. This contract generally outlines whether the renter or landlord will pay the utilities, the pet policy and any other restrictions and requirements the landlord wants to include.
Read your lease agreement carefully before you sign it. You will be held accountable for knowing everything included in the document. Also, keep a copy of the lease for your records. It may come in handy if you have a question about what you and the landlord are and aren’t allowed to do. A copy of the lease could also be valuable if you have a need for an attorney to review it.