What is the difference between rent and leasing?

[Chibson]

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.

Yeah, I think it may also differ from country to country or individual to individual. They may have the option to extend the lease and of course it is important and necessary for them to pay a certain amount for that.

 

[Jonaville]

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?

Renting is for a short period of time which may last for some months or for a few years while leasing is just like buying a property for some years and using it for all you want till the time is up.