John moved out of the dorms into an apartment with his friends, Chris and Randy. After talking to an insurance producer, John decided to carry renter insurance on his stuff. He gave the agent the following list of items to be covered:
Rental agreement – a contract between a landlord and tenant that provides for occupancy for a short period of time, such as one month; automatically renews at the end of this period, unless the landlord or tenant give each other the proper amount of notice to terminate the contract.
Rent – an agreed upon sum paid at fixed intervals by a tenant to the landlord for possession and use of property