The very first sentence of the Kickstarter page says, "Space Monkey is the next generation cloud. For $10 per month, you get a full Terabyte (1000 Gigabytes) of storage you can use anywhere, any time."
Having a $/month service on top of hardware does not change the nature of ownership. Mixing hardware and network seems to be a constant with SpaceMonkey's communication strategy. I'm sure that a law student could show how none of the KS campaign qualifies as a rental/lease offer.