In this video on Lease vs Rent, here we discuss Rent and Lease differences with examples, infographics, and comparison table.
𝐋𝐞𝐚𝐬𝐞 𝐯𝐬 𝐑𝐞𝐧𝐭 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬
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When an asset is leased; the maintenance responsibility lies with the lessee. This means that when a company rents a property, the responsibility for maintenance lies with the client.Whereas, when an asset is rented; the person who leases the asset or the property is responsible for the maintenance.
𝐊𝐞𝐲 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞𝐬 𝐁𝐞𝐭𝐰𝐞𝐞𝐧 𝐋𝐞𝐚𝐬𝐞 𝐯𝐬 𝐑𝐞𝐧𝐭
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#1 - Lease is taken if a company does not have sufficient fixed capital or wishes to use the property at the same time, but does not want to pay for it. Whereas, Rent takes a property at a monthly fee.
#2 - Leasing contracts have two parties – lessor and lessee. Whereas, Rental agreement has two parties as well – landlord and tenant.
#3 - Leasing is performed for assets/equipment. Whereas, Renting is done for properties or lands.
To know more about the 𝐋𝐞𝐚𝐬𝐞 𝐯𝐬 𝐑𝐞𝐧𝐭, you can go to this 𝐥𝐢𝐧𝐤 𝐡𝐞𝐫𝐞:- [ Ссылка ]
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