Financial Terms Glossary

Renting

Formal

A payment, usually of a fixed amount for the use of a service, asset, or piece of land. No ownership rights attach to the contract and no large up front investment is usually required.

Informal

Where to start? Everyone knows what this is, but maybe not of its benefits in business. Renting can give immediate access to expensive assets through monthly hire rather than unaffordable outright purchase. Renting can also give flexibility - quickly shrinking or growing usage as business dictates.

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