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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.
Generally speaking, the landlordâas owner of the buildingâbears the responsibility for damage to the property as the result of a break-in. Typically, the landlord will have insurance that covers the structure of the building, while renterâs insurance covers only personal property of the resident.