What a Rental Agreement Is and why it matters
Rental Agreement is a legally binding contract that defines the terms under which a landlord rents residential or commercial property to a tenant. It sets the length of the tenancy, rent amount, payment schedule, security deposit terms, permitted uses, maintenance responsibilities, and conditions for termination or renewal. Typical forms include landlord and tenant names, property address, move-in date, utilities allocation, and signatures. Electronic execution and recordkeeping are accepted under U.S. law when requirements of ESIGN and UETA are met, though specific state rules may vary.