Is there a difference between renting and leasing an apartment? What are they?

Answer 1

Renting and leasing an apartment are basically the same thing, however sometimes you can rent month-to-month and move out whenever, but a lease locks you in to a time frame like 6 months or 1 year.

Answer 2

Renting is for a month to month arrangement. Leasing is for a specified period of time Usually a year or Six months and the lease is signed and agreed to If someone quits on a lease without permission they are liable for the term of the lease.

Answer 3

renting. apartment.some are on short term. leasing an apartment. maybe 1/2 years

Answer 4

A lease means that you have agreed to live there/pay for a longer amount of time. Leases are usually several months or years. Also,.. if you decide to move before your lease agreement expires,.. you are responsible to pay for the time you promised.

Renting means that you agree to live/pay on short term basis,.. such as month to month for example, and are free of responsibility after your last paid month if you choose to leave.

Answer 5

A lease must be in writing and for a definite term (5 months, a year, etc.). A rental agreement need not be in writing (some states require a writing if it is for longer than 12 months) and can be open-ended.

Answer 6

leasing an apartment is when u cannot move until the lease is up and it is also a time frame on the apartment..renting is when u can move when ever u want.no contract.

Answer 7

None. Lease is the paper you sign making it legal. Rent is the money you pay monthly to live there. The term "renting" and "leasing" are basically interchangable for real estate.