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

A lease and a rental agreement are two different types of legal agreements that allow a tenant to occupy a property in exchange for some form of payment. However, there are important differences between the two. A lease is a long-term agreement between a landlord and a tenant, typically a year or more. Leases usually include details such as rental payment amounts, the tenant’s rights and the landlord’s responsibilities. The tenancy under a lease can not be changed or terminated by the landlord unless the tenant breaches the agreement or does not pay rent. In contrast, a rental agreement is a much shorter agreement, usually lasting a month or less. It states the landlord’s and tenant’s responsibilities in a much briefer way. This type of agreement can also be renewed each month, which gives the landlord more flexibility in setting the terms and can give the tenant more flexibility in when they move out. Both leases and rental agreements are governed by North Carolina state laws, which means that all tenants have certain rights that the landlord must adhere to. It is important for landlords and tenants to understand the difference between a lease and a rental agreement so that each party can protect their rights.

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