BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The term landlord refers to a person who owns property and allows another person to use it for a fee. The person using the property is called a tenant. The agreement between a landlord and a tenant is called a lease or rental agreement.

Detailed explanation-2: -A lease is a legal, binding contract outlining the terms under which one party agrees to rent property owned by another party. It guarantees the tenant or lessee use of the property and guarantees the property owner or landlord regular payments for a specified period in exchange.

Detailed explanation-3: -The tenancy agreement for real estate is often called a lease, and usually involves specific property rights in real property, as opposed to chattels. A rental agreement is often called a lease, especially when real estate is rented.

Detailed explanation-4: -The Rental agreement is also legally binding between the owner and the tenant wishing to live on the owner’s property. However, it differs from the Lease Agreement. It is not a long-term contract.

Detailed explanation-5: -In a landlord and tenant relationship, the landlord only transfers the right to use and occupy the property, but the landlord must acknowledge the tenant reasonably if he or she wants to enter the property. The tenant must pay the rent for the lease. Failing to pay rent on time could lead to an eviction.