There are legal, financial, and personal implications to consider which will affect your living arrangement. The following are some issues which may cause conflict. Roommates may have recourse by holding the security deposit or by filing a suit in small claims court. Some tenants sign a lease for the first available rental they find, hoping to use that house as insurance in case they can't find anything better. Each had advantages and disadvantages for both the tenant and the landlord.
Oral agreements are binding, but they are very difficult to prove.
The landlord can raise the rent, alter, or terminate the agreement at the end of any rental month, provided the proper notice is given. You and your landlord may agree on a longer notice period. Always keep a copy of your written notice. Providing you don't breach your lease, the landlord is obligated to rent the unit to you for the length of time, under the conditions, and for the rent amount, outlined in the lease. A disadvantage to the tenant is that it is not as easy to terminate a term lease.