A lease agreement is an agreement between a landlord (property owner) and the tenant (resident). It is a legally binding agreement that allows either party to sue in court if the lease agreement is broken. A lease agreement is signed prior to a tenant taking residency in the dwelling (building).Tenants RightsTenants have rights under the lease agreement and can expect certain things from the landlord. The first thing tenants should expect from the landlord is a safe place to live. The landlord must keep the home in good repair. If there are issues in the residence that pose a health risk to the tenants, the landlord must repair it..The landlord cannot enter the home unless he or she has been given express permission to do so by you. If the landlord takes such action, he or she opens him or herself up to a lawsuit. The tenant has a right to privacy.The tenant can expect the landlord to return the security deposit placed when the lease was signed. The landlord can keep a portion of the security deposit if repairs are necessary due to damage done by the tenant. The landlord may be able to keep the full security deposit if the tenant owes rent. The security deposit must be returned to the tenant within a certain amount of time, generally 60 to 90 days.Landlord's RightsThe landlord has the right to expect rent on time each month. They have the right to expect the correct amount of rent due, not just a portion. If the landlord does not receive rent on time, he or she can sue the tenant in court for payment as well as eviction.The landlord has the right to expect tenants to take care of the property. The tenant is allowed a certain amount of room with normal wear and tear, but huge holes in the walls or stains on the carpet are looked on as a problem. The landlord can use the security deposit to make these types of repairs after the tenant moves out.The tenant/landlord relationship can be a good one as long as both parties adhere to the laws and the lease agreement. Both sides have options if the other side does not adhere to the lease or laws. Not all landlords wish to have a lease agreement in writing. It is important to have the agreement for the protection of everyone involved.