When it comes to leasing, we often see the two words lease and rent, but the use scenarios of the two words are not very clear.
To a certain extent, lease and rent are both legal terms . In actual use, pay attention to the difference between the two, especially when signing a contract in real life.
lease can be used as a noun to represent a legal document (an item or thing); if there is a problem, it is a written document that can be used in court.
In addition, when lease is used as a noun, can also represent the rental property .
This word “lease” used as a noun, can also mean the property that is spared.
For example:
I need to review the lease before I sign it.
I need to check again before signing the lease.
I have a ten-year lease on the car.
My car has a ten-year lease agreement.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
I need to go check on the lease to make sure it is in good condition.
lease can also be used as the verb , in this case we are not talking about paper files, and is the act of allowing someone to use your apartment or car in exchange for money.
For example:
He wants to lease his house to a family member.
He wants to rent his house to a family member.
He wants to rent his house to a family member.
The lawyer advised the new property owner to lease her apartments to people with children.
The lawyer advised the new property owner to lease her apartments to people with children.
and rent is used as a noun to refer to payments for land or property for a period of time (usually every month). In layman's terms, it's rent.
For example:
I need to pay the rent by the 15th every month.
I need to pay the rent by the 15th of each month.
What is the rent? It is $500 per month.
What is the rent? $500 per month.
When rent is used as a verb, it means allowing someone to use your stuff (like a car or apartment) .
For example:
I have an apartment in New York City that I rent to a nice family.
I have an apartment in New York and rented it to a kind family.
I am thinking of renting my car to make some extra money.
I am thinking about renting a car and making some extra money.
Are you renting this apartment?
Is this apartment you renting?
From the above description, there is no particularly big difference between lease and rent; in real life, whether to use rent or lease should be used in depends on how long the file needs to be reviewed.
Because the noun of rent is different from lease, the following description will use the phrases Lease Agreement and Rental Agreement to distinguish the differences between the two parties for the sake of easy understanding.
Lease Agreement refers to a legal document between the owner of the property (the landlord or car dealer or lessor) and the person who wants to use the property (the tenant or lessee). is used to indicate the amount of payment and the time of payment.
lease agreement can be a long-term protocol . It does not need to be written every month, and the validity period can be six months or more. The two parties signed by
reached an agreement on how much money is paid and other responsibilities, which shall be signed by both parties until the end of the period stated in the agreement.
That is, if you pay $100 a month for two years, you have to stay in this apartment for two years. If you want to move out, you have to pay a fine.
You can choose to renew the lease re-new the lease agreement after two years, or move to a new place without paying a fine.
The landlord, lessor or person who actually owns the property can change the amount required to pay or rent the property to others. There is a difference between
rental agreement and lease agreement in terms of limitation period .
rental agreement is not a long-term contract, only lasts 30 days to one month, and is then updated monthly.
This means that both parties can change the terms of the agreement at the end of each month, such as the rent will increase next month
.
Those who pay rent (tenant) can move out without punishment, or those who collect rent (landlord) can tell the tenant to move out and then rent it to others, which will weaken the binding force on both parties.
So if you are someone who rents a house or other items, lease agreement can guarantee that your interests will not be affected for a certain period of time, because the payment amount cannot be changed before the end of the lease period.
