A residential lease is a legal agreement between a landlord and a tenant that outlines the terms for renting a home or apartment. 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, a residential lease lasts for a fixed term, often one year, but it can also be month-to-month. The lease may include rules about pets, maintenance, and other aspects of living in the property. Understanding the lease is crucial for ensuring a smooth rental experience.