Renting is only used by the owner of a property. For example, the owner of a house or flat may want to give possession and use of the property to another person for a certain period of time. The owner then receives a periodic payment in exchange for renting the property. If you are the landlord, you will rent a house and you will want a tenant to rent it.
To rent is a verb that means to allow someone to make use of the property or live in it temporarily in exchange for a payment. This payment is monthly and is also called renting the place. To rent means to be available for rent, but when a property has been rented out, it simply means that it is no longer available for rent. When a property is rented, it means that the "dotted i's" have been dotted and the rental contract has been signed.
At this stage, if the tenant is not already living in the property, it is very likely that he or she will do so soon. There is no difference between renting and leasing, and if there is, it is purely semantic. You put up a "for rent" sign when you own a property and are looking for a tenant. It is the landlord who rents his house, while it is the tenant who rents it.
In simple terms, there is certainly a difference between a Let Agreed and Let property. Let Agreed means that a tenant has shown a serious interest in a property and has made a verbal offer to let it. This initial offer will have been accepted in principle by the landlord or letting agent and, as a demonstration of the tenant's commitment, the tenant will have been asked to pay a refundable deposit to reserve the property, whilst the necessary reference checks are carried out. The deposit is limited to one week's rent in the case of fixed-term tenancies.
The agreed tenancy is used when a prospective tenant has indicated that they would like to rent a property and has made a verbal commitment to rent it. However, the process is far from complete. The fact that a property has a "Let Agreed" sign does not necessarily mean that it is off the market. Hopefully this means the beginning of a happy and mutually beneficial arrangement between all parties involved: the end of the search for someone looking for a place to live and the end of the landlord's search for a paying tenant.
You are not wrong if you think that when you see this phrase, associated with a property, on Rightmove or Zoopla or on a sign in front of a house or flat, it means that the property is no longer on the rental market. However, it does not mean that the house in question has been rented out, but probably will be in the not too distant future. Both renting and leasing mean the same agreement in which the landlord allows the use of the property on a temporary basis to the tenant in exchange for money. Thus, a rental agreement is a form of lease, but renting is usually short term, while leasing is much longer term.
These two bonds can be merged, which means that the returned bond can go into the security bond. But what does "Let Agreed" really mean? After all, if a property has been rented, why is it still advertised? In reality, a landlord should not describe what they are doing as a rental, rather than a lease, but these distinctions are not important to most people, as what is meant is easy to understand.