Renting a Boat

Renting a Boat (Photo credit: kathleenleavitt)

First of all, hire and rent are often interchangeable, but not always. So, for example, car rental and car hire are the same thing, and the names of the companies that offer short-term vehicle hire or rent reflect this. Car leasing is different and refers to a long-term agreement, often over years, between the leasor (the owner of the vehicle) and the leasee (the person who will use the vehicle).

Vehicles etc are advertised as ‘for hire‘.
Buildings etc are advertised as ‘for rent‘.

Equipment is usually hired out to those who need it (not rented).

People are hired by companies and individuals to do work. This can mean long or short term, and as an employee or as a contractor. For example:
The company has received a big order and is now hiring production workers (relatively long-term, as employees).
We have received more orders than usual, so we are hiring agency workers to help out (short-term workers from an external agency).
The old lady could no longer look after her garden, so she hired a gardener (as a contractor).
We cannot talk about renting people, it sounds negative and de-humanising.

Buildings can be rented or leased (rent is more informal). The landlord (owner) makes a rental agreement or draws up a lease with the tenant (user) of the building. Both the landlord and the tenant are bound by the terms of the rental agreement or lease, and these usually include giving notice before terminating the agreement. Notice would, perhaps, be one month’s advance warning of the tenant leaving the premises, and probably a much longer time should the owner wish to terminate.
Rented property is referred to formally as leasehold, and property you own is referred to as freehold.