Definition of rent or lease

Rent or lease it's a contract in the middle a party agrees to temporarily transfer the use of a thing piece of furniture or property to a second party who in turn undertakes to pay a certain price for that use.

A rental or lease agreement is one of the most common financial real estate transactions that takes place in all parts of the world and with respect to all types of objects. In this contract there are two parts, of which one is considered lessor and owns the particular object that it will put to concession of the part considered tenant for the latter to use it and offer a previously agreed payment for that use.

A lease can be in respect of a thing, such as an object, a device, or machine, a service, such as a good or a job, and a property real estate, such as a home or office.

Often, the payment for the use of personal or real property occurs once a month, during all the months that the leasing contract, and in that case it is called rent or rent. But it can also happen that the payment for the use of the property occurs in a single time, covering the total agreed price. Another type of income is that which, from the economic products generated by the leased property, the lessor receives a partial percentage of them.

The most common rentals are those that take place involving a homeowner who wants rent it partially or totally to third parties and that charges them a monthly sum for the usufruct of the property or office. Many people in the world rent their home or office for reasons of comfort, savings or economic potential. In turn, a person can sublet the property that he rents, allowing others to occupy some of the rooms of the property in question.