What is the difference between a rental agreement&a lease agreement?
Renting or leasing a house or apartment is common. The terms “rent” and “lease” are often used interchangeably. However, there are stark differences between the two. Before you sign or offer any such agreement, make sure that you and the other party understand these differences.LengthAccording to All Business, a rental agreement is typically 30 days, while a lease agreement usually runs for a full year. However, some landlords offer shorter leases for three or six months.ChangesBoth parties can change a rental agreement after 30 days. However, the terms of a lease agreement are locked in until it expires.ChargesIf you sign a 30-day rental agreement but decide to stay longer, your landlord still has the right to increase the rent, if desired. This does not hold true for a lease agreement. However, if you break a term on your lease agreement, such as moving without notice, then the landlord has the right to charge you a fee.BenefitsRental agreements are most suitable for people who desir
