An Ohio standard residential lease agreement outlines all terms and conditions governing a housing-related tenancy between a landlord and tenant. Both parties enter such a contract upon reaching a mutual understanding regarding their rental arrangement and its terms, such as monthly costs and security deposits due at signing. Before completing any formal document, landlords often vet their potential renters through the use of background checks — the most popular being credit checks that yield detailed reports containing a current numerical score and credit-related payment history. Tenants with inadequate or minimal credit histories might be asked to apply with a guarantor, effectively bringing a third-party sponsor into the lease to assume liabilities if the primary tenant were to waiver on their responsibilities.
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