The lease involves paying a certain amount to temporarily take advantage of something.
From the Latin locatio , the term location allows us to name the lease or the action of leasing . This verb, in turn, refers to paying a certain price for the temporary use of things or services.
Generally, this practice is governed by a rental or lease contract , which imposes obligations and guarantees rights for the parties involved (the landlord or lessor , who temporarily transfers the use of a piece of furniture or property to the tenant or lessee ; the latter , in turn, is obliged to pay a certain amount for said use).
Location payment
The lease can be paid periodically (weekly, biweekly, monthly or annually, for example), which is constituted as an income . On the other hand, the total value of the rental can be paid in one go, at the beginning or at the end of the term established by the contract. In this way, if a house is leased for $500 per month and a one-year contract is signed, the tenant can pay a single payment of $6,000.
When the tenant does not pay the rent, causes damage to the rented property or uses it differently than agreed, the landlord may terminate the contract . On the other hand, if you wish to break the relationship unilaterally, the landlord is protected by the rights of the contract.
It should be noted that, in the cases of fields or farms, it is possible that the lease is paid in kind with the crops or products obtained from the farm.
The lease contract details the conditions of the agreement.
Characteristics of a contract of this type
A rental agreement must have a series of characteristics to be considered valid, these are:
* It must be bilateral (two parties participate in it: the landlord and the tenant)
* It must be onerous (that is, there are considerations that are reciprocal in nature)
* It must be commutative (the obligations that each party must comply with are made clear)
* It must be consensual (both parties agree on their consent to the agreement)
* Must be nominated (that is, have a name and respond to legal regulations)
* Must be temporary (has a start and end date)
There are also various ways to carry out this agreement, it can be a sale (in which ownership of the thing is transferred), bailment (consisting of a legal and free contract), deposit (a real contract that does not allow use of the thing in question), partnership (one of the partners can deliver something of his property for the use of the rest of the members in the form of a contribution, that is, it is not a consideration), mutual (it is a real contract through which fungible goods are transferred as property from one legal entity to another for a specific time and in exchange for a specific amount of interest ) or usufruct (if it is onerous, that is, both usufructuary and tenant they have use and enjoyment of the thing and pay a certain price for it), among others .
Location conditions
When signing the agreement and establishing mutual consent for its execution, it is necessary to detail the nature of the contract , make clear the thing that is being rented, the value for said rental and the time it will last , as well as the destination that will be given to said asset, that is, what type of activities the lessee will be able to carry out with said asset. In the case of renting an apartment, it is usually made clear that the tenant agrees not to sublet it or use it for illicit purposes such as setting up a clandestine business, for example.
In the event that the landlord is a non-emancipated minor or a person with a disability (legally proven), his or her parents or guardians may carry out the rental through a power of attorney (judicial authorization) that expressly states what assets they can rent and for what duration.