Rental Agreement
/ˈrɛn.təl əˌgriː.mənt/
Definitions
- (n.) A legally binding contract by which one party grants another the temporary use and possession of property, typically real estate or personal property, in exchange for rent.
The landlord and tenant signed a rental agreement outlining the terms of the lease.
- (n.) A document specifying the conditions, rights, and obligations of parties involved in leasing personal property like vehicles or equipment.
She reviewed the rental agreement before renting the car to ensure there were no hidden fees.
Forms
- rental agreements
Related terms
See also
Commentary
Rental agreements are often distinguished from leases by their typically shorter duration and simpler terms; clarity in duration and payment terms is critical in drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.