A lease agreement is a legal contract between a landlord and a tenant that outlines the terms under which a property is rented. This document specifies important details such as the duration of the lease, the amount of rent, and the responsibilities of both parties. It serves to protect the rights of both the landlord and the tenant. Typically, lease agreements cover aspects like maintenance responsibilities, rules for property use, and conditions for terminating the lease. They can vary in length, from month-to-month arrangements to long-term leases lasting several years. Understanding the terms of a lease is crucial for both parties involved.