Provided are methods and systems for the licensing of services associated with IoT devices that are under rental by users and/or that are shared between users. A comprehensive user-based licensing system connects services, users, and IoT devices with respect to licensing based on the particular context in which a device is being rented, one or more capabilities of the device being rented, availability of services for the particular device, and/or one or more characteristics of the user who is renting the device. The licensing system enables a user who is renting an IoT device to purchase one or more services associated with the device in conjunction with the rental.