A lease or rental agreement is a contract between a landlord and a tenant which gives the tenant the right to use and occupy rental property for a certain period of time. When a tenant turns over the right or the partial right to use and occupy rental property to a roommate or subtenant, that agreement is sometimes referred to as a sublease. A lease can be a verbal agreement or a written agreement. At the end of the lease, use and possession of rental property must be returned to the landlord. A lease requires the tenant to pay a specified amount of money each month in return for the use and enjoyment of the premises. This payment is called rent.