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. Typically a written agreement is signed to establish the roles and expectations of both the tenant and landlord. There are many different types; a rental agreement tends to refer to short-term rental, whereas lease refers to longer-term rental, also known as leasing.
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👉 Rental in the context of Roommate
A roommate is a person with whom one shares a living facility such as a room or dormitory except when being family or romantically involved. Similar terms include dorm-mate, suite-mate, housemate, or flatmate ("flat": the usual term in British English for an apartment). Flatmate is the term most commonly used in New Zealand, when referring to the rental of an unshared room within any type of dwelling. Another similar term is sharemate (shared living spaces are often called sharehouses in Australia and other Commonwealth countries). A sharehome is a model of household in which a group of usually unrelated people reside together, including lease-by-room arrangements. The term generally applies to people living together in rental properties rather than in properties in which any resident is an owner occupier. In the United Kingdom, the term "roommate" means a person sharing the same bedroom; in the United States and Canada, "roommate" and "housemate" are used interchangeably regardless of whether a bedroom is shared, although at US universities having a roommate commonly implies sharing a bedroom. This article uses the term "roommate" in the US sense of a person one shares a residence with who is not a relative or significant other. The informal term for roommate is roomie, which is commonly used by university students and members of the younger generation.
The most common reason for sharing housing is to reduce the cost of housing. In many rental markets, the monthly rent for a two- or three-bedroom apartment is proportionately less per bedroom than the rent for a one-bedroom apartment (in other words, a three-bedroom flat costs more than a one-bedroom, but not three times as much). By pooling their monthly housing money, a group of people can achieve a lower housing expense at the cost of less privacy. Other motivations are to gain better amenities than those available in single-person housing, to share the work of maintaining a household, and to have the companionship of other people.
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Rental in the context of Real estate contract
A real estate contract is a contract between parties for the purchase and sale, exchange, or other conveyance of real estate. The sale of land is governed by the laws and practices of the jurisdiction in which the land is located. Real estate called leasehold estate is actually a rental of real property such as an apartment, and leases (rental contracts) cover such rentals since they typically do not result in recordable deeds. Freehold ("More permanent") conveyances of real estate are covered by real estate contracts, including conveying fee simple title, life estates, remainder estates, and freehold easements. Real estate contracts are typically bilateral contracts (i.e., agreed to by two parties) and should have the legal requirements specified by contract law in general and should also be in writing to be enforceable.
Rental in the context of Prime Video
Amazon Prime Video, known simply as Prime Video, is an American subscription video on-demand over-the-top streaming television service owned by Amazon. The service primarily distributes films and television series produced or co-produced by Amazon MGM Studios or licensed to Amazon, as Amazon Originals, with the service also hosting content from other providers, content add-ons, live sporting events, and video rental and purchasing services. Prime Video is offered both as a stand-alone service and as part of Amazon's Prime subscription. Amazon Prime Video is the second-most-subscribed video on demand streaming media service in the United States, after Netflix. The service has around 205 million paid memberships worldwide.
Operating worldwide, the service may require a full Prime subscription to be accessed. In countries like the United States, United Kingdom, and Germany, the service can be accessed without a full Prime subscription, whereas in Australia, Canada, France, India, Turkey, and Italy, it can only be accessed through a dedicated website. Additionally, Prime Video offers a content add-on service in the form of channels, called Amazon Channels, or Prime Video Channels, which allow users to subscribe to additional video subscription services from other content providers within Prime Video.
Rental in the context of Rental agreement
A rental agreement is a contract of rental, usually written, between the owner of a property and a renter who desires to have temporary possession of the property; it is distinguished from a lease, which is more typically for a fixed term. As a minimum, the agreement identifies the parties, the property, the term of the rental, and the amount of rent for the term. The owner of the property may be referred to as the lessor and the renter as the lessee.
There is typically an implied, explicit, or written rental agreement or contract involved to specify the terms of the rental, which are regulated and managed under contract law.Examples include letting out real estate (real property) for the purpose of housing tenure (where the tenant rents a residence to live in), parking space for a vehicle(s), storage space, whole or portions of properties for business, agricultural, institutional, or government use, or other reasons.