Talk:Renting

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Letting vs. Renting[edit]

The article for Letting redirects to this article but then the article itself does not mention anything about how the practice of letting differs from renting, which might be different in the UK than in the states, I'm not sure that's what I came here to find out. If the article is going to redirect it should at least make a cursory mention on the topic that is being redirected. -- GIR (talk) 00:11, 13 June 2008 (UTC)


Leasing vs. Renting[edit]

This page should explain whether "renting" is also a synonym of "leasing", and it needs mention of leasing of business premises, not just for residential purposes (strangely called "housing tenure"), and it needs a "real" link to leasing, not just under "See also". --Espoo 13:35, 16 June 2006 (UTC)

Thanks to whoever improved this by explaining the relationship to lease, but the relationship to leasing or at least to the mostly incomprehensible legalese on that page is unclear. --Espoo 08:26, 26 August 2006 (UTC)

Leasing and rentals are not the same - from a finance perspective, leases have a specified life, usually exceeding 12 months, whereas rentals can be shorter and are often more flexible. This may seem to be a minute point, but it drives very different accounting treatment - FASB 13, for example, dicates that "rentals" do not need to be disclosed in the footnotes of the leasee's balance sheet whereas all leases do (except capital leases, which are actually are disclosed in the balance sheet itself). Also, the definition of a lease allows much greater flexibility than the term rental, as the industry allows a lease to resemble either a typical rental agreement in type (ie an operating lease) or look much more like a long term agreement to purchase the asset (ie a capital lease). These are not generally subtleties that are associated with rentals. —Preceding unsigned comment added by 12.189.85.130 (talk) 02:47, 25 January 2008 (UTC)

There is no difference between the use of the terms renting and leasing except that renting is slang for a leasing agreement. Rent's only legal definition, at least in England and Wales, is that it is the consideration paid by the lessee (person who is leasing the property) to the lessor (person who own the property) for the lease. There is however another type of agreement which it seems that many trying to explain the difference between renting and leasing have eluded to, a Chattel Lease or a Hire Agreement (although this may be a UK/US difference hopefully this will illustrate the point none the less). Essentially the only difference between these agreements and a lease in the strict sense is that the latter can only be made of real property (i.e. Land and the Buildings on that Land) where as Chattel Leases and Hire Agreements are for, as the name suggests, chattel, i.e. anything which is not real property or a chose in action (these being a debt principally) so a chair, rug, machine, car, etc. They take the exact same form as a lease except the subject matter of the contract is not real property. The final category of property that I have identified here, a chose in action cannot be the subject matter of any form of lease, used in the broad sense of the word, they may only be assigned or charged but not leased. So essentially the correct term used depends on (i) the law of the country where the agreement is to be made and (ii) what type of property is concerned. —Preceding unsigned comment added by 86.151.35.38 (talk) 09:06, 2 July 2008 (UTC)

Leasing and renting are not synonymous, in particular for:

  • A Finance Lease which are for a long term, in comparison with the useful economic life of the equipment or property where the lessees take on most of the risks and rewards of ownership, and will have to declare the lease as an asset on their balance sheet and the payments by the lessee are treated more as loan repayments than renting (where payment is made for the temporary use) .
  • A lease will have a fixed specified term in the contract while a hire agreement may not have any term specified. A hire agreement is a renting contract (where payment is made for the temporary use) but is not a lease. --Nicevans (talk) 11:02, 4 July 2008 (UTC)
  • When leasing something, you economically own the building / item and if you have your own company you can add it to the papers of your bookkeeping. When renting something, however, you can't book it as a propery, only as a cost. --Bramvandeperre (talk) 11:27, 29 March 2010 (UTC), not logged in:

Proposed merger with rental agreement[edit]

I think they should remain seperate articles. Rental agreement is such a detailed article and usefull in its own right, I worry that it will be cut down and mangled to fit in with the lack of detail in the renting page. When I first came upon this article in wikipedia, I searched specifically for rental agreement, and I was happy to have such detail. I dont want this lost to merging. --Chrisdab 23:16, 22 July 2006 (UTC)

Computer hardware (and software) rental[edit]

The subject should be expanded on, as FUD on FOSS says that free/OSS software can't be rented, while MS software can be rented. -195.50.197.5 08:23, 24 August 2007 (UTC)

Rentee[edit]

I've seen a lot of pages online referring to the owner as a "renter", and to the person leasing as a "rentee". This to me makes certain sense since it's the same pattern as "employer" and "employee". I'm not so sure if rentee is a real word or not. Anyone know? —Preceding unsigned comment added by 71.248.32.99 (talk) 06:29, 25 December 2007 (UTC)

Rentee is not a real word. The correct word is lessor. —Preceding unsigned comment added by 206.169.197.221 (talk) 22:12, 14 February 2008 (UTC)

Technically the person who owns the property is referred to as the 'lessor' and the person who then leases that property from him is termed the 'lessee.' I'm not sure where this rentor/rentee dichotomy comes from, maybe it is an Americanism or slang in general, but the proper term from a 'rent' as defined on that page is a Lease. The only legal mechanisms that follow the pattern of a lease but are not termed a lease are for property other than land (car, machinery, etc.) and are known as chattel leases or hire or hire purchase agreements. Rent is the consideration paid for a lease by the lessee to the lessor and is not an agreement in its own right but merely a clause of a leaseing agreement. Hope this helps. —Preceding unsigned comment added by 86.151.35.38 (talk) 08:43, 2 July 2008 (UTC)

Proposed merger with Leasing[edit]

Another editor proposed this merger some time ago but there has been no discussion. I suggest that this is done, and then the current redirect Lease is redirected to Leasehold estate. There are also a number of merger proposals on that page that people might want to comment on. DWaterson (talk) 23:50, 26 February 2008 (UTC)

I definitely believe they should remain separate pages. The two practices have different accounting impacts on the customer, are utilized by the customer for different reasons and to fulfill different types of needs, and the industries consider themselves to be in different types of businesses, thus largely pursuing different customer bases except in narrow bands such as RPO. Speaking specifically to the United States, the national phone directories, which are the major resource a customer uses to locate a rental company, use different headings to direct customers to businesses that can provide they service they require. For a number of years the US Govt's practice of lumping rental and leasing companies together under one SIC code umbrella created confusion and made industry statistics difficult to come by, but the current NAICS system, which drills down much more effectively, does a decent job of separating the two types of businesses in the extended codes. Also, please reference the American Rental Association's Global Insight industry reports, which focus just on rental businesses. —Preceding unsigned comment added by Balboni (talkcontribs) 12:37, 30 March 2008 (UTC)

Oppose. Keep separate to reflect legal and cultural differences. -- John (Daytona2 · Talk · Contribs) 15:01, 7 April 2008 (UTC)

Also Oppose, per both above. // FrankB 21:28, 30 June 2008 (UTC)

I agree with all the people here suggesting that leasing and renting stay separate. In my view, too, both concepts are to be distinguishable. You do rent an apartment but you can't lease it. You can lease a car, but it's for one or more years, whereas if you rent a car, it is for one or more days. The list goes on but the type of contracts are fundamentally different. Faweekee (talk) 21:06, 28 January 2010 (UTC)

Removing {{mergefrom}}[edit]

Removed Mergefrom tag this date, per consensus above. Lease which also covers legal terms like Leasee and leasor already had tag removed in the nebulous past. // FrankB 21:31, 30 June 2008 (UTC)

Adding link[edit]

I'm adding a link to The Landlord's Game, the precursor to Monopoly, because it says Elizabeth Magie invented the game to demonstrate how rents enrich property owners and impoverish tenants, because it proves that renting should not be legal Socialism20091011 (talk) 06:14, 15 January 2009 (UTC)

http://news.dailytrust.com/index.php?option=com_content&view=article&id=5654:landlord-kills-tenant-over-house-rent-&catid=1:latest-news&Itemid=119

http://www.nytimes.com/1987/04/05/nyregion/tenant-kills-yorksville-landlord.html?pagewanted=1 Stars4change (talk) 02:53, 31 January 2010 (UTC)

Anti-Rent War[edit]

This is excellent from Howard Zinn's book "History Is A Weapon" about the Anti-Rent War if you could add history: http://www.historyisaweapon.com/defcon1/zinnother10.html

Mention that Stephen Van Rensselaer III was given a huge land mass for free by a corporation in the "New World" & the rent he received made him one of the richest Americans ever. Hillmon7500 (talk) 03:30, 4 March 2014 (UTC)

Rent is now $3,200 a month per ROOM in San Francisco!! Hillmon7500 (talk) 18:41, 12 March 2014 (UTC)