What is an Operating Lease?

September 2, 2021 in

An operating lease with Satellite Shelters is when the lessee is unsure if they intend to purchase or take title of their mobile or modular building. This financing option is a full payout contract with a residual or balloon payment at the end of the lease or the option to return the building. The lessee may discuss with their local Satellite representative, the option of extending the lease or changing the lease to another operating or finance lease.