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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.
If you're looking at renting an apartment, you may want to know more about the differences between studio and single apartments. New renters typically gravitate to these smaller, lower-end kinds of apartments because they have neither the need nor the funds for a larger residence. The defining difference between studios and singles is that a single apartment always has a separate bedroom while a studio almost never does.