It is important to have a written contract between a lessor and a tenant in order to define all the responsibilities and obligations of each party during the lease. In this way, both sides understand and agree on the terms, which can help avoid conflicts and differences of opinion in the future. A lease can be either for a set period of time, which means it ends on a given date, or it can be periodic, meaning it runs from week to week or month to month. Updating the standard lease agreement to reflect relevant legislative changes. . . .