Renting
Payment for temporary use; hiring / From Wikipedia, the free encyclopedia
This article is about an agreement for payment for temporary use. For other uses, see Rent (disambiguation).
"Rental" and "Rentals" redirect here. For other uses, see Rental (disambiguation).
"Renter" redirects here. For the Estonian economist and chess player, see Raul Renter.
"Letting" redirects here. For other uses, see Let (disambiguation).
Renting, also known as hiring[1] or letting,[2] is an agreement where a payment is made for the use of a good, service or property owned by another over a fixed period of time. To maintain such an agreement, a rental agreement (or lease) is signed to establish the roles and expectations of both the tenant and landlord. There are many different types of leases.[3] The type and terms of a lease are decided by the landlord and agreed upon by the renting tenant.
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