What is a characteristic of a lease agreement?

A characteristic of a lease agreement is that it is generally valid for any length of time agreed upon by both parties. This flexibility allows tenants and landlords to choose lease terms that suit their needs, whether they are looking for a short-term arrangement of a few months or a longer commitment of several years. The agreement becomes legally binding once both parties consent to its terms, regardless of the duration selected.

While written leases are common and often preferred for clarity and legal protection, the law allows for verbal agreements in some jurisdictions, though they may be harder to enforce. Additionally, filing a lease with the court is not a standard requirement; lease agreements typically exist between the landlord and tenant without needing to be filed publicly. This reinforces that the duration of a lease can be customized, making the characteristic of validity based on mutual agreement the prominent feature.