Leases usually include the standard elements, such as the amount of rent, the duration of the lease agreement, who is responsible for different maintenance properties, and penalties that can be assessed for non-compliance with the conditions. The negotiation of a lease is determined by a large number of factors, starting with market conditions and the evolution of the prices of the property compared to other rentals in the area. The landlord`s goal is to collect as much rent as possible each month while reducing their risk. If the applicant can assure that he would be a stable tenant, the lessor can grant him a discount on the monthly amount of rent, as well as the inclusion of incidental costs or services. You need a rental agreement because it declares your responsibilities as a landlord, sets rules for tenants living in your property, and is often imposed by state laws.