Real estate What is the difference between rent and leasing?

[greenieS]

To my knowledge, renting an apartment / product specifically means a short period of time (like a few months or even a month) and leasing means making a contract for a longer period of time (for example 1 year - 2 years). But, also from my point of view, you can rent that car for 1 year, then how do you call it? Rented or leased?

 

[Mataracy]

Renting can be described as an agreement between two people; the owner of the house or care taker and the person that want to rent.
Rent of property mean for a period of time I mean short period of time.
Leasing in the other way round meant for a long term period of time. Its an agreement that really needed both party yo appends a signature that the lease will be a certain period of time like 5years to 10years or even more.

 

[kayode10]

Duration of occupation is a major difference between renting and leasing. it is usually on a short-term while easing is on a long time.

If you are renting out a property, the tenant can only occupy it for the duration between one year to five years. While leasing is usually longer.

You lease out your property when you need huge amount of money but you are not willing to forgo the property entirely.

And this is one of the ways you can raise capital for your business. You can simply lease out a valuable property and use the money to fund your business idea. This is even better than raising a loan from the bank.

 

[btaliat]

You have answered the question. While rentage requires a short period of time, leasing is longer than that. And during the rentage, the property owner can still lay claim to the property while during leasing, the property owner won't have any say on the house toll the agreement on the leasing will be terminated.

 

[kayode10]

Majority of the car renting services over here will not allow you to process a car for a period of several months. The maximum amount of time you can possess a car property for rent age is 30 days.

The company will charge you in accordance with the daily subscription and multiply it by the number of days which she want to process the car in this usually don't go beyond 30 days.

The reason why they will not allow you to with hold a car beyond 30 days is because usually engage in regular services for their cars.

They do regular services to maintain the lifespan of the cars and make them available for the next customer.