kids encyclopedia robot

Renting facts for kids

Kids Encyclopedia Facts
HK Citywalk Shop for lease
Empty shop for lease
Hire Here tool rental buildings, SCR, Dublin (48139582563)
Shop for renting tools

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. 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 is a person who rents a farm from its owner.

In a closed-end lease (like a car), it is best to drive a vehicle with a residual value of at least 55%.

Images for kids

  • Kaohsiung Mosque First Building

    Notice of renting availability of a building in Kaohsiung, Taiwan.

  • MEZ 1911 10 01 20 object 594901 (2)

    Notice of renting availability at the Villa Freischütz in Meran in 1911.

See also

Kids robot.svg In Spanish: Contrato de arrendamiento para niños

kids search engine
All content from Kiddle encyclopedia articles (including the article images and facts) can be freely used under Attribution-ShareAlike license, unless stated otherwise. Cite this article:
Renting Facts for Kids. Kiddle Encyclopedia.