Changes

A lease is where equipment or property is rented by one person or business from another.  A lease normally implies a longer term contractual term, whereas renting is often considered to be shorter term.  Hence we rent cars for weekend trips but lease them for two years at a time.

A '''lease''' is where equipment or property is rented by one person or business from another.  A lease normally implies a longer term contractual term, whereas renting is often considered to be shorter term.  Hence we rent cars for weekend trips but lease them for two years at a time.

A lessor is one who owns the asset to be leased and generates revenue from it.  A lessee is the one who uses the asset and pays the owner for the privilege of doing so.

A lessor is one who owns the asset to be leased and generates revenue from it.  A lessee is the one who uses the asset and pays the owner for the privilege of doing so.