Arenda

Arenda (Russian: аренда) is a legal arrangement in which one party, the lessor, grants another party, the lessee, temporary use of property or goods in exchange for payment. The core elements are transfer of temporary possession, a defined period, and compensation. The term is used in Russian, Ukrainian, Belarusian and other Slavic languages, and is often translated as lease or rental in English.

Arenda covers a wide range of property and goods, including real estate, motor vehicles, machinery, equipment, and consumer goods. Leases can be long-term commercial arrangements or shorter consumer rentals. The key parties are the arendator (the lessee) and the arendodatel (the lessor). A lease agreement specifies the duration, rent or rental fee, payment schedule, and any security deposit. It also sets responsibilities for maintenance and repairs, restrictions on subletting or use, conditions to terminate or renew the contract, and liability for damage or loss.

In contrast to leasing (лизинг), which in many jurisdictions is a financing arrangement with an option to buy, arenda usually does not include an option to purchase.