Renting, also known as rental or lease, is a contract in which one party pays for the temporary use of another's good, service, or property. A gross lease is one in which the tenant pays a specific rental amount and the landlord covers all of the property's regular expenses. A lease in which the tangible property is land (including at any vertical section such as airspace, building story, or mine) is referred to as tenancy or Real Estate rental. A premium is an amount paid by the tenant for the lease to be granted or to secure the former tenant's lease, usually to secure a low rent, sometimes known as a ground rent in long leases. Users of parts of buildings are most likely to pay a service charge, which is typically an express list of services in a lease, by collateral contract, or by the same contract to avoid conflicts over service charges.
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