Rental business glossary

Rate — price per day/week/month. Deposit — security for the item. Payback — cost / (rate × rented days). Utilization — % of days rented. Write-off — retiring a worn unit.

Rental contract — the deal's basis. Handover act — condition at release. Invoice — payment. Deposit receipt — security record. Claim — a formal damages demand.

Handover — release to client. Return intake — acceptance back. Idle — unrented unit. Servicing — fleet maintenance between rentals. Booking — a date reservation. Delivery — client logistics.

Equipment rental ≠ housing lease — different legal regime. Material liability — for fleet assets. Force majeure — liability release. Non-refundable deposit — only by consent.

Non-return — client vanishes with the unit. Forged documents — registry verification. Selling pledged goods — a criminal charge. Blacklist — the industry's debtor base.

Unit — a rental SKU. Fleet — all assets. Tagging — inventory number/QR. Service life — time to write-off. Spares — a repair kit for upkeep.