Which of the following best describes a standard lease?

A standard lease is best described as a written contract outlining rights and responsibilities. This type of lease serves as a formal document that details the obligations and protections provided to both the landlord and the tenant. It typically includes crucial information such as the rental amount, duration of the lease, maintenance responsibilities, and conditions for termination.

Having a written lease is important because it provides clarity and helps prevent disputes that could arise from misunderstandings or differing expectations between the parties involved. It establishes a legal foundation for tenant and landlord relations in accordance with property laws and regulations. This contrasts with other options, which describe agreements that lack the formal structure, legal enforceability, or clarity provided by a written lease.