A rental agreement contract is a written contract between a property owner or landlord and a renter, who will be residing in the property for a predetermined amount of time. A rental agreement contract can also be referred to as a ﾓlease.ﾔ The lease will state who is renting the property, for how long, and how much rent will be paid. In a rental agreement contract, the property owner or landlord is often referred to as the ﾓlessorﾔ and the renter or tenant is referred to as the ﾓlessee.ﾔ A lease may be for a specified period of time, generally six months to a year, or a contract may allow a renter to reside in the property on a month-to-month basis. A typical rental agreement contract will specify the amount of rent to be paid and when rent is due. Proof of renter's insurance may be required before a renter can sign a rental agreement contract.