keannu
VIP Member
- Joined
- Dec 27, 2010
- Member Type
- Student or Learner
- Native Language
- Korean
- Home Country
- South Korea
- Current Location
- South Korea
I found the difference between "lease" and "rent" as below, and if you'd like to add more, please tell me. And one more thing. In Canada, I once saw a lady living in an apartment saying she is having a room or den rented by another tenant, her being the original tenant to save rent - for example, if she has to pay $1000 per month, she gets $400 for another tenant under her, paying only $600 from her side. It seemed to be illegal, which is quite true in Korea.
Is this called "sublease" or "subrent"? The former seems to be only for offices, while the latter for apartments or condos.
Is this called "sublease" or "subrent"? The former seems to be only for offices, while the latter for apartments or condos.
Improve this chart | Lease | Rent |
---|---|---|
Meaning: | It is a contract renting land, buildings, etc., to another; a contract or instrument conveying property to another for a specified period | Renting is an agreement where a payment is made for the temporary use of a good or property owned by another person or company |
Flexibility: | Not flexible | It is flexible |
Time: | Long term | Short term |
Agreement: | Pre determined and cannot be broken without breaking the lease | Pre determined and terms can be |