The examples and perspective in this article may not represent a worldwide home rental lease agreement pdf of the subject. You may improve this article, discuss the issue on the talk page. This article is about an agreement for payment for temporary use.
For the rock band, see The Rentals. For the Estonian economist and chess player, see Raul Renter.
Renting, also known as hiring or letting, is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership. Financial inadequacy, such as renting a house when one is unable to buy it. One may not wish to pay the full price that ownership would need, allowing for smaller payments over a specified period of time.
Reducing financial risk due to depreciation and transaction costs, especially for real estate which might be needed only for a short amount of time. When something is needed only temporarily, as in the case of a special tool, a truck or a skip. When something is needed that may or may not be already owned but is not in proximity for use, such as renting an automobile or bicycle when away on a trip. Needing a cheaper alternative to buying, such as renting a movie: a person is unwilling to pay the full price for a movie, so they rent it for a lesser price, but give up the chance to view it again later.
There is no need to worry about lifespan and maintenance. Renting keeps off-balance-sheet the debt that would burden the balance sheet of a company in case the property would have been bought. Renting is good for the environment if products are used more efficiently by maximizing utility rather than being disposed, overproduced and under utilized.