Residential renting refers to the process of leasing a home or apartment to live in for a specified period. Tenants, or renters, pay a monthly fee, known as rent, to the property owner, or landlord, in exchange for the right to occupy the space. Rental agreements outline the terms, including duration, payment amount, and responsibilities for maintenance. This arrangement allows individuals or families to have a place to live without the long-term commitment of buying a property. Renting can be beneficial for those who need flexibility, such as students or professionals relocating for work, as it often requires less financial investment than purchasing a home.