Unlike other uses of the term lease, this word does not refer to any ownership rights or opportunities. When you rent an apartment, there is a contract called a lease or rental agreement.
Are Renting And Leasing An Apartment The Same Thing, Often, the terms “lease agreement” and “rental agreement” are used interchangeably to mean the same thing. Renters’ insurance and tenants’ insurance refer to the same thing.
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The terms of the lease cover the entire rental period, and they cannot be changed during that period. This might surprise you, but leasing and renting are not the same thing. Typical loss categories include theft, fire, and flood. Renting is to allow the other party to occupy or use the asset for a short period, in return for a fixed payment.
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