An oral or written lease containing a specifi c duration may specify the terms for ending the lease. (Remember that any lease for more than one year must be in writing to be binding.) Th e lease could also end automatically at the end of the lease period and not require either party to notify the other. Be careful of any automatic renewal clauses that renew the lease for a certain period. If your lease is oral and there is a discrepancy as to the duration of the lease, it most likely will be treated as one without.