Although some rentals may take place by an oral agreement, most of them utilize a written rental agreement to state the terms that exist. Requiring consent from each party, the rental agreement is used as a contract between the two parties, owner and renter. After the rental agreement is actually signed, the renter receives rights to temporary use of the property being rented. Additionally, the agreement must state other essential terms of the rental, including the names of owner and renter, the property being rented, duration of rental, and rent payment. For purposes of the rental agreement or lease, the owner is called a lessor and the renter becomes a lessee. Most rental agreements include additional provisions such as a security deposit, an amount of money which is granted for the purpose of protecting the landlord's financial risk. To create rental agreements, many landlords use a free rental agreement form, which allows the parties be sure the agreement is legally sound. In order to be functional for both parties, the rental agreement must also be negotiated ﾖ using a free rental agreement form can make this part of the rental process easier as well.