The rent lease agreement is a contractual agreement that defines the terms that exist during a lease. According to the terms of a rent lease agreement, tenants provide rent in exchange for temporary use of property. By entering into a rent lease agreement, which is consented by signing the contract, the lease becomes legally binding, making the owner the lessor and the renter a lessee. As a contract, the lease agreement is organized into sections or provisions, usually consisting of term, rent, security deposit, use of property, and condition of property, at the least. Depending on the terms decided by the two parties, the agreement may or may not be automatically renewed at the end of the lease. If an automatic renewal is set to occur, the lessee should understand that the terms of the agreement are subject to change, even things such as rent and conditions of use.