A rental agreement secures a tenancy for a short period of time, typically a month. Landlords can increase rent, change the terms, or terminate the agreement on short notice. A lease secures a tenancy for a longer period of time, typically a year. During that time, the landlord is not allowed to raise the rent, change the terms or terminate the lease on short notice.
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The information for this answer was found on our Month-to-Month Lease Agreement answers.