A Lease, is a transfer of the right to enjoy the concerned property for a pre-defined time period or in perpetuity. The lessor (owner of the property) gives the lessee (the one leasing the property) such consideration periodically, usually at the beginning or end of a lease agreement.
License does not allow any interest in the premises on the licensee’s part. It merely gives the licensee the right to use and occupy the premises for a limited duration.
The cardinal distinction between a lease and a license is that in a lease there is a transfer of interest in the premises, whereas in the case of a license there is no transfer of interest, although the licensee acquires a right to occupy the premises. When premises are given out on lease or tenancy basis the legal possession of the premises in these cases is also deemed to be transferred to the lessee and tenant respectively.
In case of real estate consultants, typically such properties constitute a major part of their business. Again, the properties can be of residential or commercial types. Keeping track of all properties can be a tedious task which can be simplified manifold by the use of a Property Management Software. Such powerful software equips property management companies with next-generation tools to drive optimum profitability from their real estate investments. One could then manage lease agreements, mortgages, licenses, maintenance agreements and virtually any other type of document or contract. You could set alerts for expiring leases in property software for agents. Other features of use include contact management, data import and export, PDF/Excel reporting, email integration, payment tracking, etc. Realty Redefined offers an effective solution to manage all your lease and license properties as well.