What does a lease agreement typically include?

A lease agreement is a comprehensive legal document that outlines the arrangement between the landlord and tenant regarding the rental of property. It usually includes critical components such as the terms of rental, which specify the conditions under which the tenant is allowed to occupy the property; the duration of the lease, indicating how long the tenant will be residing there; the responsibilities of both the landlord and tenant, detailing what each party is expected to maintain or provide; and payment details, which clarify the amount of rent due, payment methods, and any penalties for late payments.

In contrast, the other responses highlight incomplete aspects of what a lease should cover. Focusing solely on the amount of rent ignores the essential components of the agreement that protect both parties and ensure clarity regarding their rights and obligations. Simply including the name of the tenant without any other context does not serve as a functional lease agreement, as it lacks critical information necessary for the rental relationship. Lastly, discussing future property value does not belong in a lease agreement, as this type of speculation is not relevant to the stipulations of rental rights, responsibilities, and payment terms.