Mataracy
VIP Contributor
Rent can be defined as a compensation paid by a tenant( that is leasee) to the property owner ( or lessor), for use of occupancy of a property.
To rent out something means to lend it to somebody, a company or any entity for a fee.
Lease in the other hand can be defined as a contract by which one party conveys Lands, property, services, etc. to another for a specified time, usually in return for a periodic payment.
A lease said to be a contract under which one party, the lessor( that is the owner of the asset ), give another party( Leasee) the exclusive right to use the asset usually for a specified time in return for the payment of rent.
Leasing said to be a process by which a firm can obtain the use of certain fixed assets for which it must make a series of contractual, periodic, tax- deductible payment.
MAJOR FEATURE OF LEASE
The major feature of lease are:
(1) THE CONTRACT
There are essentially two parties to a contract of lease financing, namely the owner and the user.
(2) LEASE PERIOD
The basic lease period during which the lease is non- cancelable.
(3) ASSETS
The assets,property to be leased are the subject matter lease financing contract.
(4) RENTED PAYMENTS
The lease pays to the leasoe for the lease transaction is the lease rental.
(5) OWNERSHIP
During the lease period, ownership of the assets is being kept with the lessor and its use is allowed to the leasee.
Your idea will be welcome. Can you make the difference between Rent and Lease?
To rent out something means to lend it to somebody, a company or any entity for a fee.
Lease in the other hand can be defined as a contract by which one party conveys Lands, property, services, etc. to another for a specified time, usually in return for a periodic payment.
A lease said to be a contract under which one party, the lessor( that is the owner of the asset ), give another party( Leasee) the exclusive right to use the asset usually for a specified time in return for the payment of rent.
Leasing said to be a process by which a firm can obtain the use of certain fixed assets for which it must make a series of contractual, periodic, tax- deductible payment.
MAJOR FEATURE OF LEASE
The major feature of lease are:
(1) THE CONTRACT
There are essentially two parties to a contract of lease financing, namely the owner and the user.
(2) LEASE PERIOD
The basic lease period during which the lease is non- cancelable.
(3) ASSETS
The assets,property to be leased are the subject matter lease financing contract.
(4) RENTED PAYMENTS
The lease pays to the leasoe for the lease transaction is the lease rental.
(5) OWNERSHIP
During the lease period, ownership of the assets is being kept with the lessor and its use is allowed to the leasee.
Your idea will be welcome. Can you make the difference between Rent and Lease?
