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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.
The tenant has secured it with a lease. My hands are tied. A rental agreement, by contrast, is a month-to-month agreement. At the end of each 30-day period, the landlord and tenant are both free to change the terms. The landlord can raise the rent, decide to offer the space to someone else or enact a âno-petâ policy.