A North Carolina tenancy agreement is a legal document used by property owners and owners for the purpose of lawfully renting one (1) or more units. The form is intended to clarify the rights of all parties and serves as a written record of the contract. This is an additional protection of the liability of the owners. Before signing a lease, landlords require all potential tenants to complete a rental application. This gives landlords permission to verify the applicant so they can make an informed decision on whether or not the applicant can rent. Generally, either party can provide 30 days` notice to terminate the lease, such as a monthly lease or a fixed-term lease. In addition, the landlord may require the tenant to file a rental application form for residential and commercial rents. Nevertheless, no termination is necessary, as the lease expires at one time or another. The North Carolina lease is a specific agreement between a lessor and a lessee with respect to the use of residential or commercial space for a defined period of time and a specified payment plan. . .