What defines a residential lease?

A residential lease is fundamentally a legally binding agreement for renting property. Such leases formalize the terms and conditions under which a landlord allows a tenant to occupy a residential property. This agreement typically includes details such as the rental amount, duration of the lease, responsibilities of both parties, and any other rules governing the tenancy.

This distinction is significant as it underscores the legal enforceability of the lease. If either party fails to adhere to the terms of the lease, the other party has legal recourse. This could involve pursuing damages or eviction in the case of the tenant's breach.

While oral agreements can exist in a less formal context, they do not provide the same level of legal protection and clarity as a written lease. Additionally, a temporary arrangement might suggest a sense of informality or lack of commitment that does not capture the definitive terms and obligations laid out in a standard residential lease. Furthermore, property tax obligations are not typically covered in a residential lease, as they pertain to the property owner's responsibilities rather than the renter's.