Leasing any type of property is a legally binding action, and therefore, the process of beginning a lease should by no means be taken lightly. A lease is not as simple as shaking hands and paying rent ﾖ it includes a contract, known as a lease agreement, which like any other contract, cannot be easily broken after being signed. In order to lease property, there are both legal and personal factors that should be considered before consenting. From a legal perspective, a lease constitutes temporary use and must also be in accordance with tenants rights and other laws. Personally, both parties should consider components of the lease such utility payments, security deposits, and subleasing, each of which are likely to surface during the lease so should be defined in the agreement. If the landlord and tenant are not aware of this information, things can quickly turn awry. To use a standard lease as a guideline for creating you lease, landlords and tenants can refer to a lease template for more information.