Which term describes a legal agreement between a tenant and landlord that allows a tenant to rent a residential property for a fixed period?

• A. Residential Leases
• B. Commercial Leases
• C. Energy Efficiency Leases
• D. Lease Agreements

Answer: (A)

The essential idea is that a lease is a binding contract that gives a person the right to occupy a property for a set period in exchange for rent. When the property is used as a home, this agreement is called a residential lease. It lays out the term (how long you can stay), the rent amount, security deposit, and the duties of both the tenant and landlord. A commercial lease is for business properties, not homes. Energy efficiency leases relate to financing or installing energy upgrades, not the standard housing rental. A lease agreement is a general term that could apply to many types of property, but the question specifies renting a residential property, so the precise term is residential lease.