Have question about renting domains

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I want to rent domains to businesses who already have a website and domain. The rented domain would be easier to remember and better for marketing purposes than their regular domain. Website rental is not involved - just the domain name itself would be rented. Can I simply cloak and/or point / redirect the rented domain name from my domain registrar to the business who wants it? Would I need their DNS info? And if they stop renting it, can I just have the domain point to another business website?
#domains #question #renting

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