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Rentals are a useful innovation because the transaction is beneficial for both parties.

The leasor turns their large investment into a stream of payments, and the leasee turns their stream of payments into use of a large investment without having to make such an investment and without needing to have the capability to make that investment.

Avoiding making a large investment in property makes it easier for the leasee to move if needed, since there aren't significant costs to unwind a lease like there are to unwinding property ownership.