BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A lease deed is a written contract between the property owner and the tenant that carries all the terms and conditions. A lease deed is signed between the two parties at the time of renting of commercial property.

Detailed explanation-2: -Definition of contracts of lease A contract of lease refers to a contract whereby the lessor delivers the leased property to the lessee for the latter’s use or obtains proceeds through the use, and the lessee pays rent.

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: -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-usually 30 days-while a lease contract is applied to long periods-usually 12 months, although 6 and 18-month contracts are also common.