A lease is a contractual agreement between a tenant and a landlord that permits the tenant to possess and use the property owned by the landlord in exchange for a payment of rent. It is a legally binding document that sets out the terms and conditions of the agreement, such as the length of the lease, the amount of rent to be paid, the rights and responsibilities of the tenant and landlord, and any other provisions that may be applicable. The lease clearly outlines the rights and obligations of both parties, providing for a secure and stable environment for the tenant and landlord. It is important to note that a lease is not the same as a rental agreement, as a lease is more of a long-term agreement, while a rental agreement is often of a shorter-term nature. Additionally, the terms of a lease may be more restrictive than those of a rental agreement, as it provides for greater security for the landlord.
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Daniel H. Weberman, The Kabinet Founder
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