I HAVE GIVEN THE HOUSE ON LEASE.
& difference between lease & rent.
pl. reply asap.
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Guest:Went to www.nolo.com, the biggest difference is the period of the occupancy and therefore the stability of the arrangement, i.e. that renting is month to month so lessor and lessee have a fairly low commitment to one another. Compare to a lease which is for a defined period.
sohj:Depending on where you are, there could be subtle but important legal differences. It sounds like a British English sentence. Are you in the UK?
I suggest you confirm the meaning with an independent estate agent.
They are most definitely not synonyms.
Anonymous:For me, rent and lease are just the same but the only distinction, rent is usually use in our daily language rather than using the word lease but in business: bussinessmen used it, in other words LEASE is a business term. Moreover, when you account the lease payments you just simply debit rent as an expense. Therefore lease and rent are definitely the same but it still depend on the people how to apply the two words.
Anonymous:Lease is define as a process by which the lessee can obtain the use of certain fixed asset for which it must make a series of contractual and periodic lease payments. In other words, the owner of the asset which is the lessor grants the exclusive right to use the asset to the lessee. While rent has been define as "to grant temporary occupancy for regular payments". If you are going to analyze both definition stated above, you will find out that they are totally the same.
In German there are two different terms in the sense I explained above, namely,' vermieten'= rent (as in to lend for money), and 'mieten'= rent (as in to borrow by paying).
My questions here are:
1- Doesn't the English language have two different terms for these processes/actions like those in German? At all?
2- Say I need a car for the weekend. I go and rent a blue car. Are the following sentences then correct:
a. Mr. Smith from XYZ rent-a-car rents me the blue car.
b. I rent the car from Mr. Smith.
c. I am the renter of the blue car.
d. Mr.Smith is the renter of the blue car.
Thanks in advance!
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