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The Difference Between Lease and Rent: Housing. The difference between lease and rent is that a lease generally lasts for 12 months while a rental agreement generally lasts for 30 days. Letâs say you move to a new city and youâre still on the ârentâ side of the rent vs. buy decision. Youâll want to rent a house or an apartment.
Difference between Operating and Financial Lease Difference between Operating and Financial Lease Difference between two basic forms of lease viz. operating lease and finance lease are mainly on the basis of who owns the leased asset, what accounting and tax treatment is given, who bears the expenses and running costs, whether purchase option is there or not and what is the lease term.