How to draft a rental contract? What is difference between rent agreement and lease agreement?
Both lease and rental agreements have their advantages and disadvantages. Rental agreements are often shorter and allow owners to rent properties that might not be desirable to long-term renters. It is also advantageous when rental fees can rise quickly, allowing the landlord to renegotiate the terms of the agreement each month. They benefit tenants who only need to stay in a certain place during a transition or when they are unsure of how long they want to rent in a specific area. A lease agreement, on the other hand, is advantageous to a landlord by providing the stability of guaranteed, long-term income. It is advantageous to a tenant because it locks in the rental amount and length of lease and cannot be changed even if property or rent values rise.
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