Renting Definition
Renting is an agreement where a payment is made for the temporary use of a good owned by another person or company. Examples: - Housing tenure, where the person who lives in the house is a tenant, paying rent to the landlord, who owns the property.
- The renting of motion pictures on VHS or DVD, of audio CD's, of computer programs on CD-ROM.
- Renting transportation equipment, such as an automobile, boat or bike.
- Renting somewhat specialized tools, such as a floor buffer, or something bigger, such as a cherry picker.
- Renting a beach chair.