A model residential rental agreement can be used by owners and tenants for any type of real estate such as apartment, condominium, house, villa, etc., as long as this is properly described in the rental agreement. Owner (owner) – owner of the rented property that rents the apartment to the tenant. Assignment / Assignment – The act of authorizing a secondary tenant (the subtenant) to live in a rented property in replacement (or next to) the original tenant (the subtenant). Also called subletting. To see a residential property rental agreement entered into, check out our sample lease completed. Use a monthly lease if you don`t want to commit to renting your property for a full year or more, but still need to protect your rights. Using a monthly lease allows you (and your tenant) to be flexible. A rental agreement is not submitted by any government authority and kept by the landlord and tenant.. . . .