lease is a document granting possession of a property for a given
period without conferring ownership. The lease document specifies the
terms and conditions of occupancy by the tenant including period of
occupancy, rent payable etc. A lease includes a legal right for the
exclusive occupation of part or the whole of premises or land
for a defined period. The lease is a contract between the landlord
and tenant creating a leasehold interest. The operative words are
important such as lease, demise, or to let.
residential tenancies are a lease agreement between the landlord and
tenant. The most common agreement is a standard residential lease.
Many terms are implied. Under the lease agreement the tenant has the
right to exclusive occupation of part or the whole of the
premises. If the agreement meets all the rules of contract it becomes
a contract between the landlord and tenant.
exclusive occupation is not granted the occupancy may be a licence
and not a lease.