A residential lease agreement is customarily signed by both the landlord and tenant when renting a house, apartment, or condominium. A lease establishes the rights and obligations of each party. For example, the lease defines the length of the rental period (such as one year or month-to-month), the amount of rent and its due date, and when the landlord may withhold from the security deposit. States often require the landlord to make disclosures in their lease agreements, using specific language. A landlord who uses a lease not compliant with state law may lose valuable rights if the tenant defaults, and it may subject the landlord to penalties.

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