[gruez]

>Renting an apartment is credit, I am not sure why you view it has something other than credit?

>The owner of the property is loaning (credit) the use of their property to you for X amount of time in exchange for N amount of dollars, payable over monthly installments

Not really. In most places you have to pay first and last month's rent, which means you're paying for the service before it's rendered. Therefore they're not extending credit, as you have already paid for the service in advance.

[syshum]

Well there are a few problems with this

1. I would like you to define "most places" as for the first 35 years of my life I was a renter and in that time I only ever had to pay "First and last" in one instance. Most of the time it was The first months rent, and security deposit(which was often something small like $100 or $200), no "last months rent" so around here it was not "most places"

2. Even if you use that as a metric that is more like a down payment than a "services paid in advance", unless you are on some kind of month to month with no lease. Every lease I have ever signed shows the TOTAL of all payments which are paid in 12 installments just like a loan, if on month 6th you just move well you still owe the other 6 payments (less any down payment aka last month you prepaid)

The owner is absolutely extending you credit for the use of the property, If you sign a lease for an apartment for $1,500 a month for 12 months you are agreeing to pay $18,000 to the owner for the use of the property, you have both agreed to pay that over 12 equal payments, and in your hypothetical the owner has asked for a $3,000 down payment on that loan in exchange the owner adjusted the terms to 10 equal payments

[gruez]

I'm not sure I follow here. The transaction might be structured as the landlord giving you 12 months of housing service at the time of signing of the contract (or when the lease starts) and you paying him in installments of 12 payments (with the first one or two upfront), but you don't "take delivery" of the service all at once. It's given to you on a continuous basis. Therefore, at any moment during the 12 months, you don't owe the landlord anything.

[syshum]

The second you sign the lease you owe the landlort the full amount. It is a debt you owe.

Does not matter if you realize the use of the property or not, for example if you signed a Lease on an apartment in January, then due to a global pandemic you could not move (through not fault of the landlord) in until July you would still owe the rent for the 6 months even though you did not occupy the unit.