What You Need to Know About Rental Lease Agreements

It’s important that rental agreements that protect both the property owner and the renter are in place. andia/Shutterstock

Renter households are increasing. In the second quarter of 2024, year over year, the share of American renters grew by 1.9 percent, with renters making up 34.4 percent of households knowing about rental or lease agreements is imperative.

With all these renters, it’s important to have rental agreements that protect both the property owner and the renter. Knowing what to expect from a rental agreement or lease can save a lot of problems when you go to move or have a disagreement.

Rental Agreement Versus Lease

A rental agreement and a lease are two different documents. A rental agreement is a short-term contract, while a lease is a long-term contract.