Renting

Notice of renting availability of a building in Kaohsiung, Taiwan
Notice of renting availability at the Villa Freischütz in Meran in 1911

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.

  1. ^ "Definition of HIRE". www.merriam-webster.com. Retrieved 2023-05-03.
  2. ^ "Definition of LET". www.merriam-webster.com. Retrieved 2023-05-03.
  3. ^ Vimpari, Jussi; Junnila, Seppo (2017). "Valuing retail lease options through time". Journal of Property Investment & Finance. 35 (4): 369–381. doi:10.1108/jpif-05-2016-0036. Retrieved 2023-05-03.