Rental agency

Rental agency - a place or website that for a certain fee provides a certain type of item or data in electronic form:

• video rental (video tapes and DVD) - for example, Netflix
• car rental
• bicycles for rent
• gastronomic rent
• construction equipment rental
• skate rental on the rink
• ski rental
• rental of appropriate shoes on bowling or curling courses, etc.

Property rental agency

The object of the lease are movable and immovable things, including: land, enterprises, buildings, structures, equipment, vehicles and other things that do not lose their natural properties in the process of their use (such things are called non-consumable). The lease agreement must clearly define the specific property being leased, that is, the data allowing individualization of the rental object must be directly indicated in the agreement. In foreign law, it is allowed to rent not only things, but also rights representing property value, as well as securities (in particular shares) and even shares of trading associations .

Lease contract

Lease agreement is a contract in which the lessor undertakes to give the tenant the right to use the item / service for a fixed or unlimited period in exchange for a remuneration in the form of rent paid by the tenant. The subject of rent may be movable things, as well as real estate, as well as parts of things in general or even component parts. Expendables and rights are excluded from the lease. The lessor is obliged to provide the tenant with things in a condition suitable for the agreed use, and to keep it in proper condition for the entire duration of the contract at its own expense. The tenant is obliged to pay rent, which can be determined by money or other benefits, as well as use things in the manner prescribed by the contract, and take care of it. The lease expires automatically upon the expiration of the term for which the contract was concluded. If no time has been noted, it will expire as a result of the termination .

Parties to the contract

A landlord(lessor) is a natural or legal person who provides property to a tenant for payment for temporary use and possession. Only the owner or a person authorized by the owner or the law can rent the property. Lessee (lassie, possessor, renter, tenant) - a natural or legal person who has entered into a lease agreement and pays for using and owning or using the provided property to the lessor. The civil law does not provide for any requirements and restrictions to the tenant (with the exception of civil capacity, as well as to other subjects of civil law relations).

Types of rental

Rent may vary by type: actual rent, sublease, hiring, submission. Also the specifics of renting for various types of movable and immovable property are specified separately: rental of movable property, rental of vehicles, rental of buildings and structures, rental of enterprises, financial rent (leasing). Vehicle rental One of the types of rental relations, the object of which are vehicles. Leasing Leasing, otherwise financial leasing, is a complex of property relations, which are characterized by the fact that the lessor is obliged to acquire the property specified by the tenant from a certain seller and provide the tenant with the property for temporary possession and use for business purposes [2]. The economic content of a leasing transaction may differ from its formalization in the regulatory documents of civil law. Sublease Sublease - the transfer by the tenant of the leased property in whole or in part to a third party in which the tenant becomes the lessor in relation to this person acting as the tenant. Rent of intangible assets Lease of intangible assets - the lease of any intangible assets (intellectual property rights, programs, trademark), implying the right to transfer the rights to use or distribute the asset .

Footnotes

Rental agency — recommended articles

Vesting order — Assignment of claims — Mortgage deed — Gross proceeds — Consideration clause — True lease — Depreciation vs. amortization — Franchise — Indemnity bond

References

• Ellen I.G., Yager J. (2015), Race, Poverty and Federal Rental Housing Policy, "U.S. Department of Housing and Urban Development Office of Policy Development and Research", p. 103;
• Katz B., Turner M.A. (2007) Rethinking U.S. Rental Housing Policy, p. 12;
• Mayer D.G. (2005), True Leases Under Attack: Lessors Face Persistent Challenges to True Lease Transactions, "Equipment Leasing & Finance Foundation", p. 4-6;
• Veasley D. (2016), [Car Rental Industry Fraud], "LaSalle University", p. 9.

Author: Valeriia Nezdolii