In short, a lease agreement is a binding contract that has a known beginning and end date, such as two (2) months, half a year, one (1) year, or five (5) years.
Rental agreements, more commonly known as “Month-to-Month Lease Agreements,” are contracts that automatically renew at the end of each month. This can continue on for years if neither party wishes to end the agreement. To end the contract, either party will need to provide a written notice to quit to the other party.