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Iod of time in exchange for rent. WHAT’S IN A LEASE? In a lease, a landlord and tenant agree to the terms, or rules, in effect during the time that the tenant uses the landlord’s property. Such terms may include, for example, the amount of rent; the length of time the tenant can live in the landlord’s property (the “term of possession”); the amount of the security deposit; property maintenance responsibilities of the tenant and/or landlord; and other rules that describe the rights and .
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