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The three popular lease lengths are month-to-month, 6-months, and year-long lease: but is one better than the other? There is no one right answer?it will depend upon the landlord's preference.

Rental is the object that you are renting. Rent is a verb (to rent) or a noun (the money you pay to rent something). Rental is a noun that refers to the thing that you rent (apartment, house, car, movie, and so on).

Common contents of a lease agreement include: Names of the lessor and lessee or their agents. Description of the property. Amount of rent and due dates, grace period, late charges. Mode of rent payment. Methods to terminate the agreement prior to the expiration date and charges if any.

A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property and guarantees the property owner or landlord regular payments for a specified period in exchange.

In a lease agreement, the lessor is the person or party that issues the lease (allows the property to be rented), and the lessee is the person that the lease is granted to (the person paying rent to use the property).

In a rented property, the ownership remains with the property owner or the landlord. Clearly, in leasing, the maintenance of the property is under the lessee whereas, in renting, the maintenance responsibility is on the landlord or owner.

Leasing may cost less than renting: You'll typically pay less per month on a lease vs. a rental car of the same model for the same amount of time. You can buy the car at the end of your lease: Some lease agreements let you buy out your lease.

Leasing and renting are similar and sometimes used interchangeably, but there are some subtle differences between the two, like the length of tenancy. A lease is generally a long-term agreement while a rental agreement can be on a month-to-month basis.