I was reading my Mortgage Memorandum and it said that if I were to rent the property out then I would need the written consent of the Mortgagee. If I wanted to lease out the property, I could do so for a period of 12 months without needing written consent. Can someone please articulate the difference between renting vs leasing? After googling the subject, it seems that the majority agree that the lease are the rules under which you are utilising the subject of the lease. The rent are the payables under the lease. Concur?