What is the difference between rent and leasing?

[Mayox25]

The difference between rent and lease is that rent is for a short term like 6months to 2 years while lease is mostly for commercial buildings and it is for a longer period of time.

 

[Kaffyfolla]

The difference between lease and rent is that a lease generally lasts for 12 months while a rental agreement generally lasts for 30 days.

 

[tyrim88]

They're almost same thing, renting is short term while leasing is long term, i mean for longer period of time, but renting could still be for a longer period of time so in conclusion I really don't see any significant difference between both.

There are some slight difference in the issue of leasing,because for a property to be put under lease,it would be for a longer period of time,and its usually by firms or big organisations.

 

[Toyoabasi]

I have been hearing of this two terms in the real estate business for long now and I am finding it difficult to see the difference between them as they almost mean the same thing.
Guys what do you think are the difference between renting an apartment or leasing that same apartment?

Rent tenancy and leasehold are almost alike.
In rent tenancy, a sum of money is paid to the landlord as agreement to occupy the property for months or years as the case may be.
In leasehold, an agreement exists between the leasor and leasor for the property to be leased out for a period of years. A sum of money is paid as well, but in a leasehold, ownership of the property does not exceed ninety nine years.

 

[YERUS]

I have been hearing of this two terms in the real estate business for long now and I am finding it difficult to see the difference between them as they almost mean the same thing.
Guys what do you think are the difference between renting an apartment or leasing that same apartment?

Rent and leasehold are similar.
Money is paid as agreed to acquire the property, be it a land or house.
The difference between the two is that the leasehold tenancy usually lasts for aa longer period.

 

[Udah jnr]

The differences is in the duration , renting out maybe for six month or a year meanwhile leasing out might be for 5yrs or more which is mostly done commercially

 

[greenie]

They're almost same thing, renting is short term while leasing is long term, i mean for longer period of time, but renting could still be for a longer period of time so in conclusion I really don't see any significant difference between both.

 

[HayKay]

Rent is usually paid overtime for properties that you might not have full control over while in leasing, the property is as good as yours for the period which you've paid for it.

 

[Chibson]

Renting and leasing correlates. if you are renting a house it can be in the period of six months, one or two years. But leasing on the other hand can be as much as the period of five years 10 years or as much as depending on the agreement.

 

[Chibson]

Rent is usually paid overtime for properties that you might not have full control over while in leasing, the property is as good as yours for the period which you've paid for it.

This is very true. In my village there is something some people usually do. They lease land for some specific periods and use it to farm or plant rice. It can be in the period of 5 years or 10 years as the case may be and during this period, it is not as good as yours.

 

[Sotherefore]

There's a great differences between both of them , I understand renting to be an agreement that is mostly renewed after one or two years as I understand. In leasing someone is paying for a temporary ownership of a particular property for a certain period of time.

 

[Syldan]

Well, there is a big differences though it sounds similar from the outside. the payment for renting is made either yearly or monthly. while the payment for leasing is done ones covering the years of agreement.

 

[tyrim88]

One of the difference between renting a property and leasing a property,is that in renting it is actually a short term plan like giving out the building for a year or two,and leasing is for a longer period,like 5yreas or 10 yrs.

 

[greenie]

The difference is that a lease generally lasts for 12 months while a rent agreement generally lasts for 30 days. Both the landlord and lessee hav ever to abide by the terms of the lease for the duration of the lease.

 

[tyrim88]

We can say the two terms means the same thing but the little difference between them is that rent is payment for a short period while lease is pay for a long period of time.

That is the truth,I could remember when a friend of mine wanted to get a warehouse to store his products,the years he was asked to pay was very long,the reason that was given was that it was leasing he was going for,and we were surprised.

 

[Alisco]

The term renting and leasing as used in real estate are similar but having a difference that distinguish them Wich is the time frame. Renting is renewed within 6 to 12 months while leasing is renewed in year's

 

[Genie01]

The difference is that a lease generally lasts for 12 months while a rent agreement generally lasts for 30 days. Both the landlord and lessee hav ever to abide by the terms of the lease for the duration of the lease.

Thanks for such enlightenment .
I have been grappling to know the difference between the two but this your comment really brought light to my dark ignorant eyes.

 

[Ernestnari]

Renting a property involves subletting the property to another person for a short period of time. Maybe 1 or 2 years max. Leasing on the other hand has to do with subletting the property for a longer periods of time. From 5 years up.

 

[Nomad]

It is common to use renting and leasing interchangeably but generally speaking renting means short term occupancy where as leasing means long term occupancy. You rent for 1-2 years, you lease for 10-20 years.

 

[Good-Person]

Renting and leasing correlates. if you are renting a house it can be in the period of six months, one or two years. But leasing on the other hand can be as much as the period of five years 10 years or as much as depending on the agreement.

I think that when it comes to leasing, the laws may differ a lot. There are many people who have the option to extend the lease after they pay a certain amount of fees to the government.