A Contract of Lease is an agreement where a property owner (i.e. the lessor) allows another person or corporation (i.e. the lessee) to rent his/her property for a period of time and usually for a fee.
A Contract of Lease sets out the complete terms of the lease and the respective rights and obligations of the parties. The lease contract contains basic provisions such as (a) the amount of rent; and (b) the term of the lease. It may even include other detailed provisions such as provisions on (a) security deposit and; (b) advance rentals. A lease contract created on Legal Tree can be as basic or detailed as you need it to be depending on your situation.