Long term rent is also known as holding a long term lease which holds a property from being rented or leased out to other people unless the person holding the lease or lease holder has done something that breaks the lease agreement. This may be one or many things such as destroying the property or grounds, altering the property without consent or doing illegal activities on the property such as the manufacturing or selling of drugs, using the dwelling for business in a residential zone and many other breaches of the lease agreement.

Having a long term rent agreement can also be a great way to save money on the always increasing prices in the property market. By having the agreement that state the rent will continue to remain the same no matter what is happening in the market then you are bound to the lease agreement and the rent will stay the same over the term of the lease. Long term rent agreements are often considered to be more than one year long. A standard rent agreement may be 6 months to 1 year and then after that the terms and conditions may change. Rent can be increased each time the lease agreement is renewed but it is up to the occupant whether they want to continue living or ding business from the dwelling if the terms have been changed.