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Leasing vs. The main difference between a lease and rent agreement is the period of time they cover. A rental agreement tends to cover a short term\u2014usually 30 days\u2014while a lease contract is applied to long periods\u2014usually 12 months, although 6 and 18-month contracts are also common.
The house may not sell, or it may sell for much less than it is worth, depending on the economic conditions and the home's marketability. If you know you'll be in an area for less than five years, leasing is more cost-effective than buying. And leasing a home allows you to come and go as needed.
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