Lease vs. Rent: Understanding the Differences
Lease vs. Rent: Understanding the Differences When it comes to securing a property, whether for residential or commercial purposes, the terms "lease" and "rent" are often used interchangeably. However, they have distinct meanings and implications. Understanding the differences between leasing and renting is crucial for both tenants and landlords to ensure they enter agreements that best suit their needs. Definitions Lease: A lease is a contractual agreement where a tenant agrees to rent a property…