A home rental contract is a contract specifically designed for renting a home. Rental contract terms and laws often vary between states and local jurisdictions, though generally a home rental contract will state the duration of the rental agreement. Residential rental contracts are usually for a period of six months to a year, though month to month rental contracts are also sometimes used. In the case of a month to month rental contract, the contract will be automatically renewed each month until wither the tenant or landlord decides to terminate the contract. A home rental contract will also include the exact dollar amount that a tenant is required to pay for the rental, as well as when and how the rent should be paid. Information regarding penalties for late payment are usually also included. A tenant may be required to pay a security deposit before signing a home rental deposit; most landlords charge the equivalent of one month's rent for a security deposit. Upfront payment of first and last month's rent may also be required before signing a home rental contract.