Which of the following is a characteristic of a valid lease agreement?

A valid lease agreement is a legally binding document that outlines the terms under which a tenant occupies a rental property. For it to be enforceable, it generally needs to be signed by both parties involved – the landlord and the tenant. This signature signifies that both parties agree to the terms set forth in the lease, ensuring clarity and mutual consent.

While elements like a payment schedule or expiration date can enhance a lease agreement, they are not strictly necessary for a lease to be valid. A lease can still be valid even if it does not include these features, provided that it meets the fundamental requirements of being mutually agreed upon and signed. Some leases can even be verbal; however, written agreements are preferred for clarity and legal standing, especially for longer-term leases.

In essence, having signatures from both parties is vital as it provides legal proof of consent and agreement to the lease terms, which is why this particular aspect is characterized as essential for a valid lease agreement.