You need a Rental License to rent out a property. One license can cover all units within a single address.It is a model lease template, built for Philadelphia's landlords and tenants, which is easy to understand and amend and is downloadable for free. Your lease is one of the most important documents you'll sign each year. Here is a sense of what is typically covered in a lease. You need a Rental License to rent out dwelling, rooming, or sleeping units to tenants. I found a place that I want to rent in philadelphia. The only thing that I would like in the lease is a buyout option in. In Pennsylvania, a lease can have an automatic lease renewal clause. Leases can automatically renew for one year or even one month.