What document is typically used to formalize a tenant's rental agreement?

The lease agreement is the document that formalizes a tenant's rental arrangement with the landlord or property management. It outlines the specific terms and conditions of the rental, including the duration of the tenancy, the amount of rent, payment due dates, security deposits, and the responsibilities of both the tenant and the landlord. This legal contract protects the rights of both parties and provides clarity on expectations, thereby minimizing misunderstandings or disputes that may arise during the tenancy.

In contrast, the property management agreement pertains to the relationship between a property owner and the property management company, detailing the services provided. The service agreement typically refers to arrangements for specific services provided to either the tenant or landlord but is not directly tied to the occupancy terms. The rental application is a document used by potential tenants to apply for rental properties, containing personal and financial information, but it does not constitute a formal agreement for renting the space. Thus, the lease agreement is essential for establishing the legal framework of the tenancy.