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Oh huh and welcome to this practice wad called car rental were going to build another data model using lucid charts this time for another canonical information domain the car rental agency and in this case weve got this car rental company rented junker has a lot of offices and each location has a bunch of different cars and trucks including economy standard and van truck types include box trucks and cargo vans then theyve got customers with names addresses and phone numbers and you can reserve a vehicle for a certain part of time and the reservation when theyre returned you get the date the time the odometer reading whether the gas tank is full okay so um I guess lets jump right into it so well start the timer and then well go to Google Docs well make us a lucid chart and well select I dont know well we can select an energy relationship diagram although that doesnt seem to do much because okay lets go back and find out this is supposed to be called erd car rental they move

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What are the 4 primary types of leases?

There are, in general, four types of leases: the gross lease, the modified gross lease (or net lease), the triple net lease, and the bond lease.

What is the difference between capital and operating leases?

Capital leases (now finance), resemble financed purchases; the lease term spans most of the assets useful life. Operating leases resemble rental agreements; the asset is used for a set time with useful life remaining at lease end.

Who is called as lessee?

A lessee is a person who rents land or property from a lessor. The lessee is also known as the tenant and must uphold specific obligations as defined in the lease agreement and by law.

What are the 3 main types of lease?

The three main types of leasing are finance leasing, operating leasing and contract hire. Finance leasing. Operating leasing. Contract hire.

What is the most common type of lease?

1. Single Net Lease. A net lease is perhaps the most common form of commercial lease agreement. With a net lease, the tenant is responsible for a base rent payment, plus additional expenses associated with the property.

What are the 4 types of leases?

There are four different types of lease: gross lease, net lease, percentage lease, and variable lease.Lets have a look at each one. Gross Lease. Gross leases are most common for commercial properties such as offices and retail space. Net Lease. Percentage Lease. Variable lease.

What are 2 differences between a financing lease and an operating lease?

An operating lease is a contract that permits the use of an asset without transferring the ownership rights of said asset. A finance lease is a contract that permits the use of an asset and transfers ownership after the lease period is complete, and the lessor meets all other contract obligations.

What is the difference between a lessor and lessee?

The lessee is the temporary occupant of the property, and the lessor owns the property in which the lessee is staying. Who Holds the Lease of the Property? The lessor, or landlord, holds the lease of the property.

What are the 2 types of leases?

The two most common types of leases are operating leases and financing leases (also called capital leases). In order to differentiate between the two, one must consider how fully the risks and rewards associated with ownership of the asset have been transferred to the lessee from the lessor.

What is an example of lessee and lessor?

For example, if a car dealership leases a vehicle to someone, the car is the asset. The person renting the car is the lessee and the dealership is the lessor.

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