lease and rent difference

[Account Closed]

What is the difference between lease and rent? Who can explain to me, please?

[James Mcsweeney]

Leases are suitable for landlords who want to “lock in” a tenant for a set period of time. If you have a mortgage payment to meet, for instance, knowing you’ll have a tenant for the next year can help you budget your expenses. Most tenants are familiar with long-term leases and will not have a problem committing.

Rental agreements are month to month, with no set period of residence. At the end of each 30-day period, both you and your tenant are free to change the rental agreement .
These changes may include raising the rent, changing the terms of the initial agreement, or asking the tenant to vacate the property.