What is Renting?
[[File:HK Citywalk Shop for lease.jpg|thumb|Empty [[shop]] for lease in [[Hong Kong]]]] [[File:Surfboard Rental Shop.jpg|thumb|[[Surfboard]] rental shop]] [[File:Laacher_See_Bootsverleih_1.jpg|thumb|[[Dock]] of rental boats in the [[Laacher See]]]] '''Renting''' (also called '''leasing''') is where someone pays [[money]] to use something for a definite amount of time. This can be anything from a [[car]] or [[house]] to a [[DVD]]. [[Car rental]] for example is usually short-term; the user returns the car in a few days. The document that has all the details written on it is called the ''lease''. The person who owns the item that will be leased or rented is called the ''lessor''. The person who is paying the money to use the item is called the ''lessee''. If it is a house, building, or land that is being leased, the person who pays the money is called the ''[[tenant]]''. For example, a tenant farmer rents a farm from its owner. [[Convict leasing]] was a historical practice of [[prison]]s in the [[United States]] and certain other countries offering convicted [[prisoner]]s as ultra-cheap labor to private entities as a form of [[penal servitude]]. There are many kinds of leases: * Finance lease * Operating least * Hire purchase * Rent-to-own * Closed-end lease {{stub}} [[Category:Economics]] [[Category:Property]]