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Meaning of Leasing vs. RentingThey basically mean the same thing.

The difference is the length of time a property is being rented.

A lease implies a longer term such as a year.

[This is from the library at Findlaw.com]

If you're leasing, you've usually signed something saying you're committed to staying in that place for a certain length of time and will pay $xxx amount of rent every month for the term of that lease.

Another important difference is the value of the underlying good. If you rent something the value of the good is not meant to change, whereas if you lease something your are actually amortizing the good and have the option to buy it at the end of the least for its residual value in most countries.

To me, when you lease something, you normally have to sign a contract. However, when you rent something, a contract is not always necessary. A lease and rent are similar in some ways.

Their is no difference between renting and leasing a property. When you rent an apartment you are basically being leased a space. Unless you are the individual leasing the property, such as the landlord, renting an apartment and leasing one is the same thing.

  • Compare with "Let" or "Sub-let"

1. Both the landlord/lessor and/or the tenant/lessee can lease the property.

If the landlord/lessor leases the property, this means that he rents it out to the tenant/lessee:

2. Only the landlord/lessor can "let" the property, meaning to rent it out to the tenant/lessee:

3. Rent is simply paying someone for the use of something Renting is an agreement where a payment is made for the temporary use of a good or property owned by another person or company. (property, land, car) Pre determined and terms can be changed - Oral/Written

4. Lease is a contract renting land, buildings, etc., to another; a contract or instrument conveying property to another for a specified period, Pre determined and cannot be broken without breaking the lease - Written

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Wiki User

11y ago
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15y ago

Generally, at common law, the landlord is the owner of the property. However, in some cases a lessee may lease a large property such as an apartment building or mall and then has a contractual right to act as the landlord to the various tenants. The property manager is a person or company hired by the landlord to manage the property, collect rents, handle complaints and repairs, arrange for snow removal, etc.

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11y ago

There is absolutely no difference between the two phrases; they both mean the same thing.

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Anonymous

Lvl 1
3y ago

The difference between renting and leasing renting means you pay a monthly fee leasing means you do it periodically or quarterly

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Q: What is the difference between property for rent and property to rent?
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