Some places can be rented by the week. Most are rented by the month. A lease is an agreement to rent for a certain amount of time, often a year. Many rental places require a deposit -- an extra amount paid when the lease started and returned at the end of the rental if the renter is paid up and there are no damages. Note: Document the state of the residence when you move in and when you move out to avoid being charged for damage you didn't do.