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Thank you and good luck in all your future projects. God bless your team A landlord or tenant needs to understand what a lease is before renting real estate. A rental agreement, also known as a vacation and license agreement, is a type of contract normally concluded between the owner of a property and the tenant who wishes to own the property in temporary possession, as distinguished in the agreement. Normally, the terms of the rental agreement are similar and may vary depending on the terms of the tenants and landlords. The registered lease contains the details of the parties, the property, the duration of the rental and the amount of rent for the duration. The owner of the property can be called a “lessor” and the tenant a “tenant”. It is necessary to print the lease on the legal paper, if it is a notarized contract, if it is to be printed on the stamp document Rs 300 / -. .