What Is A Rental Agreement Definition

Through a rental agreement, the landlord and tenant mutually agree on fixed conditions, such as rent, rules for pets, duration of the contract, etc. Neither party may modify the agreement without the written consent of the other parties. Now let`s look at the pros and cons of a lease: unlike a long-term lease, a lease offers a rental for a shorter period of time – usually 30 days. For certain types of rental (sometimes called operated or wet rentals), the fee may be calculated from the rental fee + timesheets of the operators or drivers provided by the rental company to operate the equipment. This is particularly relevant for crane rental companies. Whether you choose a lease or a lease, it is crucial that you know who your tenant is.