Question

What is a lease?

A) A contract outlining the terms of a mortgage.
B) A contract outlining the terms under which a landlord agrees to rent property to a tenant.
C) A loan from a bank used to rent a home.
D) A loan from a bank used to buy a house.

Answer 1

The answer is B!

Lease is a fancy way of saying “rented property”. It’s why you may sometimes hear that people need to “renew their lease”.

I hope this helps a bit! :)

Answer 2

The correct answer is option B- A contract outlining the terms under which a landlord agrees to rent property to a tenant.

It is a legal written agreement between the owner of a property and the person who wants to rent that property for a stated period of time.

The owner of the property is known as the lessor and the person who rents the property is the lessee.

If you sign a lease you are responsible for paying the rent during the period established in the agreement. And at the end of the lease, you may renew or terminate the contract.