What document typically outlines the terms of a rental agreement?

The lease agreement is the document that typically outlines the terms of a rental agreement. It is a legally binding contract between the landlord and the tenant that specifies the rights and responsibilities of both parties. This document typically includes important details such as the duration of the lease, the amount of rent due, the payment schedule, security deposit requirements, and any rules regarding the use of the property.

The clarity and specificity of the lease agreement are crucial for both parties, as it helps to establish expectations and prevent disputes during the tenancy. It serves as a guide for what is considered acceptable behavior and what the consequences may be for violations. The lease agreement also provides legal protection, ensuring that both the landlord and the tenant understand their obligations and rights.

Other documents listed do not serve this purpose. A mortgage document pertains to the financing of real estate, detailing the terms of a loan taken out to purchase property. A property listing generally describes available rental properties, including their features and prices, but it does not serve as a contract for rental. A tenant's application is used to screen potential tenants, gathering information to assess their suitability for leasing, but it does not outline the terms of a rental agreement.