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What’s the difference between a lease and a tenancy agreement?

A property lease agreement is a legal contract between two parties, a lessor (landlord) and a lessee (tenant), whereby the lessee is granted access to a property for a certain amount of time. There are usually certain conditions attached to this agreement regarding how and by whom the property may be used. 

You might be wondering how – if at all – this differs to a tenancy agreement. Allow us to shed some more light on exactly what lease agreements are and when they’re relevant.