About the Talk
November 13, 2014 11:00 PM
New York, USNew York, US
Leases and rentals are contractual agreements by which the owner of property (the "lessor") permits another individual (the "lessee") to operate the property for a definite period of time in switch over for cash payments or other compensation.
There is no real legal difference between a "lease" and a "rental." In system, on the other hand, rentals in general are measured short-term arrangements (a day, a week, a month), whereas leases are agreements for lengthier periods (a year or more).