Leased apartment is a term used to describe a type of RENTAL accommodation. It is an agreement between a tenant and a landlord in which the tenant pays a fixed amount of money for the use of the property for a specified period of time. The tenant is usually responsible for paying utilities, taxes, and other fees associated with the property. The landlord is responsible for maintaining the property and ensuring that it meets all safety and health standards. Leased apartments are often found in urban areas and provide an affordable housing option for those who cannot afford to purchase a home.