Summary
Renting, also known as hiring or letting, is an agreement where a payment is made for the use of a good, service or property owned by another over a fixed period of time. To maintain such an agreement, a rental agreement (or lease) is signed to establish the roles and expectations of both the tenant and landlord. There are many different types of leases. The type and terms of a lease are decided by the landlord and agreed upon by the renting tenant. Various types of rent are referenced in Roman law: rent (canon) under the long leasehold tenure of Emphyteusis; rent (reditus) of a farm; ground-rent (solarium); rent of state lands (vectigal); and the annual rent (prensio) payable for the jus superficiarum or right to the perpetual enjoyment of anything built on the surface of land. There are many possible reasons for renting instead of buying, for example: In many jurisdictions (including India, Spain, Australia, United Kingdom and the United States) rent paid in a trade or business is tax-deductible, whereas rent on a dwelling is not tax-deductible in most jurisdictions. Financial inadequacy, such as renting a house when one is unable to purchase, i.e "renting by necessity". Reducing financial risk due to depreciation and transaction costs, especially for real estate which might be needed only for a short amount of time. When something is needed only temporarily, as in the case of a special tool, a truck or a skip. When something is needed that may or may not be already owned but is not in proximity for use, such as renting an automobile or bicycle when away on a trip. Needing a cheaper alternative to buying, such as renting a movie: a person is unwilling to pay the full price for a movie, so they rent it for a lesser price but give up the chance to view it again later. The tenant may want to leave the burden of upkeep of the property (mowing the lawn, shovelling snow, etc.) to the owner or his agents. There is no need to worry about lifespan and maintenance.
About this result
This page is automatically generated and may contain information that is not correct, complete, up-to-date, or relevant to your search query. The same applies to every other page on this website. Please make sure to verify the information with EPFL's official sources.
Related courses (2)
AR-491: Land, properties, housing
Ce cours basé sur un MOOC prépare à l'analyse du contexte économique du projet de construction: acquisition du terrain, prix fonciers, prix immobiliers, prix du logement (locatif et en propriété), dan
ENV-460: Land management and ground law
Ce cours présente les fondements du droit foncier et les apports des principaux instruments de gestion foncière pour la mise en œuvre du développement territorial.
Related lectures (31)
Real Estate Investment Analysis
Delves into real estate investment analysis, explaining the impact of amortization on property value and debt.
Land Management and Land Rights
Explores localized land policies in different countries and their impact on urban development and affordable housing.
Land Management Policies
Explores land management policies, state intervention, real estate bubbles, stakeholder interests, and tools like superficies rights.
Show more
Related publications (11)

Acquaintances or Familiar Strangers? How Similarity and Spatial Proximity Shape Neighbour Relations within Residential Buildings

Maxime Carl Felder, Guillaume Favre

While scholars have long established that city dwellers choose with whom to develop relationships on the basis of social proximity, spatial proximity remains the basis for neighbour relations involving greetings, social conversation, and the exchange of se ...
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD2023

Towards housing sustainability: a framework for the decision-making process of tenants

Claudia Rebeca Binder Signer, Anna Pagani

The mismatch between the supply and demand of rental apartments in Switzerland represents an obstacle to the transition towards a more sustainable society. The difficulty for the housing providers to accommodate the fast societal change of the demand bring ...
IOP Publishing Ltd2019

How to Promote the Installation of Photovoltaic Systems

The potential for solar energy production on existing buildings in Switzerland is estimated to be 40% of annual Swiss electricity consumption. At present, solar energy accounts for 3% of all electricity produced. In order to establish motivators for Swiss ...
Paul Scherrer Institute, World Resources Forum2019
Show more
Related people (1)
Related concepts (15)
Lease
A lease is a contractual arrangement calling for the user (referred to as the lessee) to pay the owner (referred to as the lessor) for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. Basically a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments.
Condominium
A condominium (or condo for short) is an ownership regime in which a building (or group of buildings) is divided into multiple units that are either each separately owned, or owned in common with exclusive rights of occupation by individual owners. These individual units are surrounded by common areas that are jointly owned and managed by the owners of the units. The term can be applied to the building or complex itself, and is sometimes applied to individual units.
Real property
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, is land which is the property of some person and all structures (also called improvements or fixtures) integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, roads, and other things. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes.
Show more
Related MOOCs (2)
Soil and real estate economy
Qu'est-ce qui détermine les prix fonciers et les prix immobiliers en général? Comprenez les liens de ces prix avec les taux d'intérêt, les rentes foncières et les loyers. Un cours d'économie pour les
Soil and real estate economy
Qu'est-ce qui détermine les prix fonciers et les prix immobiliers en général? Comprenez les liens de ces prix avec les taux d'intérêt, les rentes foncières et les loyers. Un cours d'économie pour les