Miscellaneous

What's the difference between renting and leasing?


3 Answers

The time duration for leasing is long, whereas rent is for the short term. There are two parties in a lease agreement, i.e. lessor and lessee. Conversely the landlord and tenant are the parties in case of renting. The lessee pays lease rentals to the lessor while the tenant pays rent to thelandlord.

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