A Residential Lease outlines the terms and conditions of a tenancy. Use this document if one party is renting residential property from another. This document outlines the responsibilities of the tenant or tenants and the landlord, the cost of rent, property details, and more.
On the other hand, a Flatmate Agreement is a document created amongst tenants, flatmates, or housemates to establish rules and obligations amongst themselves. The landlord isn’t involved in the making of a Flatmate Agreement and isn’t provided with a final copy of the agreement. However, the landlord’s name may be included in the Flatmate Agreement.
If you are renting a property and living with another person at that property, both documents are vital.