Purple Pie Man's Bakery has entered an agreement with Amazon whereby the bakery's database system resides on Amazon's hardware and employees access it through the Internet. In this scenario, Purple Pie Man's Bakery is a tenant of Amazon.
What do you mean by tenant?
A tenant is a body or a person who resides in a place or on property that is owned by another body or person unaffiliated with the tenant. Typically, one person rents out another person's property for a specific amount of time.
What distinguishes tenancy from paying rent?
A rent agreement or a lease agreement could be used to establish tenancy. Rent agreements and lease agreements are distinguished by the length of the tenancy period and rent payments. Because of this, leasing and renting have different financial consequences.
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