What is the primary purpose of a lease agreement?

The primary purpose of a lease agreement is to outline the terms for renting property. A lease agreement serves as a legally binding document between a landlord and a tenant, detailing the conditions under which the tenant will occupy a property. This includes aspects such as the duration of the lease, the amount of rent to be paid, responsibilities for maintenance and repairs, and any rules regarding the use of the property. By clearly defining these terms, both parties have a mutual understanding and a framework to refer to throughout the leasing period, thereby helping to prevent disputes and ensuring a smoother landlord-tenant relationship.

Other options do not align with the concept of a lease agreement; for instance, a sales contract pertains to ownership transfer, while negotiating terms for property purchase is unrelated to rental situations, and establishing ownership rights is often addressed through deeds, not leases.