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A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. [1]
The narrower term 'tenancy' describes a lease in which the tangible property is land (including at any vertical section such as airspace, storey of building or mine).A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, often in order to secure a low rent, in long leases termed a ground rent.
Consider the pros of leasing a car. When you lease a car, you sign a contract allowing you to drive it for a period, such as three or four years, after making a down payment, such as 10%.
The lease term is the length of time you agree to lease the car. If you have a shorter lease term, you may end up paying more each month but less in the long term.
How to Buy or Lease a New Car. Lightning Lap Legends: Chevrolet Camaro vs. Ford Mustang! Show comments. Advertisement. Advertisement. In Other News. Entertainment. Entertainment. Parade.
A lease is a contractual agreement between a person who owns the property (lessor) and a person who gets to use it during the term of the lease (lessee). Usually, car leases allow the lessee to drive the car for a certain number of miles for a certain number of years. The lessee pays a fixed monthly payment for the privilege of driving the ...