The contract must be signed by the landlord and tenant. The main purpose of this contract is to determine the terms of the rent; the sum of the monthly rent payment; the terms of payment of incidental costs; equipment maintenance conditions, etc. The agreement is very important in case of dispute. Before renting an apartment or house, the owner and tenant want to secure themselves with a legal document. This objective is achieved through a residential lease. This agreement is between the landlord and the tenant(s) in Ontario. It is signed by both parties. If the landlord and tenants have made other agreements or promises, these documents must be attached. The approximate time to conclude this agreement is 30 minutes.