What is the difference between a lease and a rental agreement?

These terms are often used interchangeably, but they are still different. Lease agreements are usually long-term contracts, the duration of which can be from several months to several years. Rental agreements are short-term ones, the period of which usually does not exceed 12 months.

How to rent a property?

First, you need to determine your budget and find a property that suits your needs (size, features, location, etc.). You can do it yourself or contact specialized agencies. Once you have found the right property, contact a tenant/owner to discuss the lease terms. If everything suits you, enter into a short-term or long-term agreement with the owner.

Can I get out of a rental agreement?

In short, yes. Conditions for terminating the contract ahead of schedule should be specified in the document. It is usually required to notify a landlord in advance of your intentions. Besides, you will probably have to pay the penalty.

Who prepares rental agreements?

The responsibility for drafting the text lies with landlords or their agents/representatives. They draw up a document and send it to tenants for review. If everyone is satisfied with everything, both parties must sign the agreement.

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FAQ

What is the difference between a lease and a rental agreement?

These terms are often used interchangeably, but they are still different. Lease agreements are usually long-term contracts, the duration of which can be from several months to several years. Rental agreements are short-term ones, the period of which usually does not exceed 12 months.
How to rent a property?

First, you need to determine your budget and find a property that suits your needs (size, features, location, etc.). You can do it yourself or contact specialized agencies. Once you have found the right property, contact a tenant/owner to discuss the lease terms. If everything suits you, enter into a short-term or long-term agreement with the owner.
Can I get out of a rental agreement?

In short, yes. Conditions for terminating the contract ahead of schedule should be specified in the document. It is usually required to notify a landlord in advance of your intentions. Besides, you will probably have to pay the penalty.
Who prepares rental agreements?

The responsibility for drafting the text lies with landlords or their agents/representatives. They draw up a document and send it to tenants for review. If everyone is satisfied with everything, both parties must sign the agreement.

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