BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What is a Lease? A lease is an implied or written agreement specifying the conditions under which a lessor accepts to let out a property to be used by a lessee. The agreement promises the lessee use of the property for an agreed length of time while the owner is assured consistent payment over the agreed period.

Detailed explanation-2: -A rental agreement is often called a lease, especially when real estate is rented.

Detailed explanation-3: -The lease is entering into a contract with the lessee to use an asset/property for a long period. Rent agrees with the tenant to use an asset/property for a certain period. Usually, a leasing contract is signed for the long term. The rental agreement is signed for a short time.

Detailed explanation-4: -Some common synonyms of lease are charter, hire, let, and rent. While all these words mean “to engage or grant for use at a price, ” lease strictly implies a letting under the terms of a contract but is often applied to hiring on a lease. the diplomat leased an apartment for a year.