Concept in Definition ABC

In broad or general terms, the word location is used to refer to a place, a geographical space in which a person, a property, an event may be located. Thus, the location of, for example, a film set would serve to indicate the place where the activity is being carried out. However, in more specific terms, the word location is usually related to the field of real estate and its rental.

In the heading real estate, the location is the place on which a rent that is established between two or more parties is applied. Thus, for example we speak of location when we speak of Department, of the house, of the business or of the land that will be transferred by its owner to a renter or tenant who may settle in it for the time determined by mutual agreement. Due to this permission that the person or the company receives to settle in that place, a rent must be paid that will obviously vary according to the type of property and the conditions of each contract from lease or location.

In many cases, the lessee, that is, who allows their use property property, is known in legal terms as the tenant. This word comes from Latin and refers to place, in the same way as location, which is why the tenant will be the one who lends that space in exchange for a sum of money (in most cases) or a equivalent.

The leasing contract Due to the interest that a party may have in a location, it is signed between, at least, two parties: the one that owns it in fact and right and that he decides to lend it, and the one who does not have it and wants to use it as a home, as a space for a business, etc. When the lease is delivered from a rental, the tenant does not have the right to alter that lease since it is not directly owned by him. In the event that he makes changes that have to do with its structure, he may receive a fine or lose the deposit of money that he has eventually made when signing the contract.