These are legal agreements that provide some security to the tenant and the landlord. The agreement sets out the time period you’re agreeing to rent the property and is typically between 6 and 12 months. It gives the tenant the security that if they pay their rent and stick to any conditions of the agreement the property is their home for a set period of time. For the landlord, it means you can get your property back at the end of the agreement as the tenant no longer has the right to continue to occupy the property.