IRVINE, CA—In a mega-deal that is sending shockwaves through the apartment-rental industry, rappers Vanilla Ice and MC Hammer co-signed a one-year, $550-a-month lease Tuesday. The deal, which includes heat, on-street parking and utilities, guarantees the early-'90s superstars a place to live through September 1999. "I am extremely excited about this joint-living venture between myself and MC Hammer," Vanilla Ice said. "I look forward to sharing this two-bedroom apartment with him and am confident we can work together to keep the kitchen and living-room areas clean." The pair is not permitted to have pets.