A lease agreement document is a contractual agreement between two parties, the lessor (owner) and lessee (renter), that outlines the terms of renting property or services. The document outlines the roles and responsibilities of each party over the term of the agreement, including the length of time for occupancy and rights for both parties. By signing a lease agreement, the lessee agrees to pay an agreed-upon sum of money in exchange for use of the property or services provided by the lessor. Both parties enter into this contract with clear expectations so that both can benefit from their agreement.