A property from which the owner receives rental income from the tenants, known as the renter or leaseholder, in exchange for occupying the property. Most tenants occupy rental properties and use it for either housing or work-related purposes. The landlord of rental properties may take certain tax deductions such as mortgage interest and can make an adjustment to the value of the property by devaluing it overtime. It is common for investors to own multiple properties, one of which used as a primary residence, while the others are used to generate rental income.
Rental properties are mainly real estate that creates income or is otherwise used to allocate money in the expectation of some benefit in the future rather than as a primary residence.
Rent/Lease
Commonly known as “rental agreement.” A lease is a contract that expires in 12 months specifying terms and conditions that govern the activity of both the tenant and the landlord. Rent payments is the installment made under the premise of the lease.
Lease
It is an agreement between two parties renting land, buildings, etc., to another which transport ownership for an amount of time.
Length of Agreement
It is usually 12 months; however, it can be established for any length of time both parties agree to within the lease.
Managed By
Property owner or Property manager
Rental payment
The installment payment made to the landlord of a property for the use of said property, as agreed by a lease (rental) agreement.
Rent
Renting a property is almost the same as renting accept that renting is short term usually month to month and can be cancelled with a short notice to the landlord or landlord to the tenant
Most people who do month to month renting are usually landlords who are in the process of selling their property or tenants who are on a short business trip
Length of Agreement
Usually month to month however payment is made for as long as the lease requires it.
Managed by
Mostly by the tenant who pays rent to use the property.