A rental property is a real estate asset that is leased to tenants in exchange for regular payments, typically monthly. This type of property can include residential units like apartments and houses, as well as commercial spaces such as offices and retail stores. The owner of the rental property, often referred to as the landlord, is responsible for maintaining the property and ensuring it is habitable. Tenants, or renters, sign a lease agreement that outlines the terms of their stay, including rent amount and duration. Rental properties can provide a steady income stream for the landlord while offering tenants a place to live or conduct business without the long-term commitment of purchasing property.