Final answer:
A lease agreement is a legal document that allows the renter (tenant) to use the property for a period of time.
Step-by-step explanation:
A lease agreement is a legal document that allows the renter or tenant to use a property for a specified period of time. It outlines the rights and responsibilities of both the tenant and the property owner. The lease agreement typically includes details such as the duration of the lease, rent payment terms, and any restrictions or conditions.
For example, a lease agreement for an apartment may specify that the tenant has the right to use the premises for one year and must pay a monthly rent of $1000. It may also state that the tenant is responsible for maintaining the cleanliness of the property and may not sublease the apartment without the owner's permission.
Lease agreements provide a legally binding contract that protects the interests of both parties involved, ensuring that the tenant has the right to use the property and the owner receives timely rent payments.