The residential lease agreement is the agreement, usually consisting of a form or contract, that tenants and landlords use when entering into a lease. Unlike other lease agreements, residential lease agreements are a type of agreement that only apply for residential purposes. This includes apartments, condominiums, or any other property in which a tenant will be living. When the two parties enter into the agreement, the landlord becomes a lessor and the tenant becomes the lessee or renter. This agreement should also specify terms such as rent payment, length of lease, and how the residence can be used. After both parties agree, either via signature or oral consent, all terms of the agreement become legally binding. In the event of a dispute, the residential lease agreement will be serve as evidence in court. A residential lease agreement may also be referred to as a house lease, apartment lease, condo lease, or room lease.