james xiong
What is the difference between using lease and rent?
May 13, 2011 2:48 AM
Answers · 5
Hi, the term 'lease' focuses on a period of time. Here's an example. Typically, when you 'rent' an apartment, you can leave after the current month. When you sign a lease, you agree to pay for a period of time.
May 13, 2011
Thank you very much!
May 16, 2011
When you 'lease' there is usually a down payment,then you are entitled to pay the whole amount for a predetermined number of years ,it is on a contractual basis, while when 'renting' in the real estate business for example you just pay the monthly rent and a contract is not that determinable and could be extended for further years.
May 14, 2011
It depends on the context. For renting or leasing an apartment, there's no big difference. But renting a car and leasing a car are totally different. You rent a car for a few days on vacation. Leasing a car means you have it for 2 or 3 years or more. In most cases, rent is the better and more useful word. You rent bicycles, rent boats, rent venues for weddings and parties, rent a tuxedo, etc. Lease always means something long-term and is a more formal word.
May 13, 2011
lease is a specific form of rent back by legal contract and specifies a specific length of time. A rent may or may not have a legal contract to sign.
May 13, 2011
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james xiong
Language Skills
Chinese (Mandarin), English
Learning Language
English