Final answer:
A lease can be verbal, in writing, or implied by conduct if it is for less than three years. Local laws may vary, so it's important to be aware of jurisdiction-specific regulations. The lease should also clarify terms of termination and consequences of breach.
Step-by-step explanation:
The question pertains to the legality and requirements of lease agreements. According to the law in some provinces, a lease may be verbal, in writing, or implied by conduct if it is for less than three years. This means that for leases of shorter duration, a written document is not strictly necessary, allowing for more flexibility in agreement forms. However, this can vary based on jurisdiction, and it's important to be aware of local laws and regulations regarding leases. In general, the key elements of a valid lease include the agreement between the lessor and the lessee, the identification of the leased property, and clear terms including the duration of the lease and the payment agreed upon.
Moreover, lease agreements should clarify the procedures for termination. For example, lease agreements may require a 30-day written notice from either party to end the lease once the initial period has expired. If the terms are breached, such as the resident staying beyond the termination date or failing to clear out their belongings, they may be responsible for additional rent and potential damages. This can include compensation for the owner's lost opportunity to rent to new tenants. Therefore, understanding the terms and conditions laid out in the lease, whether verbal or in writing, is crucial for both parties involved.