Download the most common information and additions below in MS Word (.docx) or Adobe PDF format: even a rental agreement is usually not automatically renewed. A tenant who remains in the property converts from month to month until the signing of a new lease or lease. The “duration” is the length of time a tenant rents the property on the list. A standard lease should accurately describe when the lease term begins and ends. The Residential Lease Agreement Template is the most common lease-tenant agreement. This is a binding agreement that generally lasts for a period of one (1) year and binds both parties until the end of their term. The document must comply with all state laws and contain all information required by law.