Residential Lease Contract
A residential lease contract is a legal contract used specifically to rent residential property, such as a house or apartment. A contract is generally entered into for a set period of time, usually six months to a year. A residential lease contract details the specific rights and responsibilities of both landlords and tenants, and outlines the terms of the lease. Laws vary by state, and lease provisions may also differ depending on the specific rental property. A standard residential lease contract will specify the cost of the rental and how and when rent is to be paid, and may also outline rules and provisions regarding things such as parking rules, rules regarding smoking in the rental property, and rules regarding pets in the residence. A pet fee or pet deposit may be required in a lease contract in addition to a general security or cleaning deposit. Violating the terms of a residential lease contract may result in eviction from the residence.
Fast Facts
- In 2008, approximately 32.2% of households in America were renter households.
- According to 2005-2007 census results, 38.3% of renter occupied housing units were occupied by householders living alone.




