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The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
Starting with a single property, he began acquiring and renting out multi-unit residential properties and learned firsthand the challenges that property owners face in collecting rents from tenants.
Renting, also known as hiring [1] or letting, [2] is an agreement where a payment is made for the use of a good, service or property owned by another over a fixed period of time. To maintain such an agreement, a rental agreement (or lease) is signed to establish the roles and expectations of both the tenant and landlord.
Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property. Leasehold is a form of land tenure or property tenure where one party buys the right to occupy land or a building for a given time. As a lease is a legal estate, leasehold estate can be bought and sold on the open market.
In an interview with TechCrunch, Liu said the startup is “the first and only service” to report renters’ payments to the major credit bureaus for free (more on this later).
Circa’s aim is to get out ahead of late rent, and in turn, foster a better relationship between property owner and renter. It is working with 1,000 units under management in the Northeast ...
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