Maximum Time Period – The landlord may also set a maximum time-frame for how long guests may stay on the property. House Rules – Mainly for roommate A Residential Lease Agreement is a legal document that is signed between an owner of a real estate property such as an apartment, house, villa, etc. and an Tenants agree to pay their rent in the form of a personal check, a cashier's check, or a money order made out to the Landlord. 4. RENT PAYMENT PROCEDURE:.