A residential lease is a legal agreement between a landlord and a tenant that outlines the terms for renting a property. This document typically includes details such as the rental amount, duration of the lease, and responsibilities of both parties. It serves to protect the rights of both the landlord and the tenant. In most cases, residential leases are for a fixed term, such as one year, but they can also be month-to-month. Tenants are usually required to pay a security deposit, which may cover damages or unpaid rent. Understanding the lease terms is essential for a smooth rental experience.