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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.
Commencement Date vs. Rent Commencement Date Many leases have two commencement datesâ one, often referred to as the commencement date, and a second, often referred to as the rent com-mencement date. While two very similar clauses may seem duplicative and confusing, there is a strong substantive basis for having two dates. A