Mataracy
VIP Contributor
Some time people use to misinterpreted the word Rent and Lease together.
To me the word Rent can be describe as a compensation paid by a tenant(or lessee) to the property owner ( 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 is more wider in explanation than that of Rent in the sense that; it is a contract by which one party conveys land 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(the lessee) 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 payments.
MAJOR FEATURES OF LEASE
The major feature of lease are:
THE CONTRACT:
To me the word Rent can be describe as a compensation paid by a tenant(or lessee) to the property owner ( 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 is more wider in explanation than that of Rent in the sense that; it is a contract by which one party conveys land 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(the lessee) 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 payments.
MAJOR FEATURES OF LEASE
The major feature of lease are:
THE CONTRACT:
