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A "residential rental agreement" is a contract under which the owner of an asset (the "lessor" or "landlord") allows the occupation of the property by a party (the "lessee" or "tenant") under various terms and conditions set forth in the residential rental agreement. Landlords will rent out apartments to a tenant under a residential rental agreement, allowing the tenant to occupy the premises for a monthly rent for a fixed period of time. The key terms of residential rental agreements typically include:

• The property being rented
• The amount of the rent
• The security deposit
• The term of the residential rental Aareement
• Covenants of the lessee to maintain the property
• Termination rights of the lessor
• Dispute resolution mechanism
• Any additional payments required of the lessee (such as for utilities)

A residential rental agreement is also referred to as a residential lease. A sample residential rental agreement can be found at www.LegalAgreements.com.