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A lease or tenancy is occasionally described as a licence, which is not quite the same thing legally.

In technical terms, a lease or tenancy gives an interest in the premises whereas a licence is only contractual. What on earth does that mean in plain terms?

Basically, a licence gives the tenant much less security of tenure than a lease or tenancy. But a licence is very difficult to legally create validly. So lots of arrangements that are called licences are actually legally tenancies.