As a landlord, your lease is probably one of the most important documents you will use. This is the legal agreement between you and any tenant who lives in your property. It describes the rights and obligations of both parties during the lease and should be understood by both parties. Different types of leases/leases are available. The Housing Tenancy Act applies to any dwelling that is the subject of a lease. A periodic rental agreement is a customer whose duration is not indicated. can be a year-to-year lease agreement, generally known as an annual lease. It can also be a lease for successive periods of less than one year, for example. B a weekly or monthly rental agreement. A periodic lease can be a year-to-year lease or a lease for successive periods, for example.B.