A rental agreement or lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset.
The narrower term for rental agreements can be used to describe a lease in which the asset is a tangible property.
Language used is that the user "rents" the land or goods let or rented out by the owner.
The verb to lease is less precise as it can refer to either of these actions.
Examples of a lease for intangible property are use of a computer program (similar to a license, but with different provisions) or tangible assets whereby a trust rents out computer equipment, vehicles or commercial premises.
These agreements are carefully structured and evaluated at Taxrek for the maximum benefit it would offer our corporate clients, and is generally evaluated, identified and completed once our company does the initial evaluation of a new client's business or group of companies.
Taxrek also becomes involved in such legal matters of our clients as our company understands the financial and legal impact that such agreements will have on our corporate clients' business endeavours and practice.