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It is common for a lease to be renewed on a „holdback“ basis, which usually converts the lease into a periodic lease month after month. It is also possible for a tenant, expressly or implicitly, to hand over the rental to the owner. This process is called the „surrender“ of the lease. A lease is a contractual agreement that requires the tenant (user) to pay the lessor (owner) to use an asset. [1] Real estate, buildings and vehicles are common goods that are rented. Industrial or business equipment is also rented. .