Common covenants by leaseholders typically include:

The most accurate choice highlighting common covenants by leaseholders is repairing and decorating the demised property. This obligation underpins the leaseholder's responsibility to maintain the condition of the premises they are leasing. Typically, leaseholders are expected to look after their rented spaces by performing repairs and decorative updates to ensure that the property remains in good condition.

This covenant ensures that the property is well-kept, upholding its value and aesthetics, which benefits both the leaseholder and the landlord. It also prevents any potential disputes regarding property condition and ensures that the leaseholder actively engages in the upkeep of their rental space.

While maintaining and repairing the building's common parts, collecting and accounting for service charges, and paying for property taxes may also be relevant responsibilities within a broader context, they are generally responsibilities of the landlord or property management rather than the leaseholder directly—particularly regarding common parts, which are shared among multiple tenants, and service charges, which are often handled by the management of the property.