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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.
December 12, 2008. Calculating the cost of renting a house can be confusing, as the monthly rent often doesn't cover all the tenant's obligations. Utility and maintenance costs can be significant, making a rental house less affordable than apartments in the same rent range. To avoid financial problems and landlord conflicts, prospective tenants should confirm all financial responsibilities and costs before leasing a house.