From both parties` perspective, licensing agreements are usually personal and specific to the current operator and owner. According to the legal definition, a rental agreement is a set of rights granted by the owner to the tenant and incorporated into the land. In comparison, a license only gives a privilege to use the property, which makes this act legal. As a rule, landlords and tenants conclude rental contracts for a period of 11 months in order to avoid any legal complications. An 11-month lease agreement, made in the form of a leave and license agreement, is not valid under rent control laws. These laws would only apply if the period mentioned in the agreement is one year or more.
Agreement Vs Lease
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