Property lease agreements are used to rent a variety of different properties, from residential homes and apartments to commercial office space or land. Residential property lease agreements are generally for a period of six months to a year, and are often renewed on a yearly basis. Commercial property lease agreements are often entered into for much longer periods of time. In some cases commercial leases may be signed for periods of fifty years or more. Commercial property leases are often much more detailed and specific than residential property lease agreements, and they are generally harder to get out of and carry harsher penalties for early termination. Because of this, many commercial leaseholders sublet their commercial property to third parties. The laws regarding both residential and commercial property lease agreements vary depending on the state the property is in, as well as the type of property and how it's being used.