What is the primary purpose of a lease agreement?

The primary purpose of a lease agreement is to define the terms of the relationship between the landlord and tenant. This type of contract lays out the rights and responsibilities of both parties, including details such as the duration of the lease, rent payment amounts, maintenance obligations, and rules for using the property. By clearly specifying these terms, a lease agreement helps to prevent misunderstandings and disputes, ensuring that both the landlord and tenant are on the same page regarding their expectations and obligations.

In contrast, the other options focus on different aspects of real estate transactions that are not applicable to lease agreements. For instance, the relationship between a buyer and agent pertains to the buyer's representation in a purchase transaction rather than leasing. Establishing the terms of a sales transaction relates to purchase agreements, not lease agreements, and property management fees are typically addressed in a separate management agreement rather than a lease. Thus, option B accurately captures the essence of what a lease agreement is meant to accomplish.