A room rental agreement is an agreement that allows a landlord to rent out rooms in a property they own but do not live in. Do I need a room rental agreement? With this information in hand, you’ll be adequately prepared to execute a commercial lease. However, there are other things that need to go into a business lease. For example, some properties will have an independent contractor do repair and maintenance in the building. You’ll need to decide what works best for your needs and make sure that information is included in the contract. Step 3: Save & Store – we save a digital copy of your signed agreement and store a copy for both parties on our secure server. When you’re readying to rent out a property, you’ll want to make sure you treat all potential renters fairly and that your process is consistent and fairly transparent. What does this mean for you? The purpose of the agreement will define the power, rights and obligations between the roommates. You need clearly state the purpose of the agreement so that there are no conflicts in the future.