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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.

Is a lease and rent the same thing?

Is lease and rent the same thing? The terms of the lease cover the entire rental period, and they cannot be changed during that period. Lease agreements also do not automatically renew. Rental agreements, on the other hand, cover renting a property on a month-to-month basis.

What is difference between lease and rent?

The difference between lease and rent is that a lease generally lasts for 12 months while a rental agreement generally lasts for 30 days. That means the landlord can't raise the rent without your written consent or evict you without cause, and you can't stop paying rent or break the lease without consequence.

Which is better lease or rent?

The lease is taken when a business doesn't have ample fixed capital, and at the same time wants to use the asset but doesn't want to pay for it. Rent on the other hand is taking property for a monthly fee. Leasing contracts have two parties lessor and lessee.

What does it mean to lease a house?

A lease is a contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the lessee, also known as the tenant, use of an asset and guarantees the lessor, the property owner or landlord, regular payments for a specified period in exchange.

Is leasing a house a good idea?

When you lease a home, you won't have to worry about the value of the property going up and down due to the housing market. A home can be a good investment if the value of the property goes up after you've purchased it, creating equity. When the property's value decreases, you lose equity.

Is a tenancy agreement a lease?

While both agreements are similar in nature, they are not the same, and it is important to understand the differences. A lease agreement is a contract between a landlord and a tenant that covers the renting of property for long periods of time, usually a period of 12 months or more.

What is the difference between a lease and a tenancy agreement?

Technically in law, there is no difference between the terms “tenancy” and “lease”. However, statutes relating to letting residential property most often use the word “tenancy”, while those regulating commercial occupancy use the word “lease”.

How do you write a lease agreement?

Familiarize yourself with your state's laws. Property management and real estate laws differ depending on what state -- and even city -- you live in. Write an explicit and easy-to-understand contract. Include all the stipulations that you require. Include details regarding the deposit. Consult with an attorney.

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