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Who is the lessor and who is the tenant?

When the asset under lease is a piece of real estate, then the lessee is a tenant and the lessor is the landlord. The lessee is the temporary occupant of the property, and the lessor owns the property in which the lessee is staying.

Is lessor same as owner?

The lessor in a lease agreement is the person or legal entity who grants a lease to an individual or family, often a lease on a property. The lessor is the owner of the asset in the lease agreement.

What is the difference between a lease and a lessor?

A lease is a contractual arrangement where one party, called the lessor, provides an asset for use by the other party, referred to as the lessee, based on periodic payments for an agreed period. The lessee pays the lessor for the usage of the asset or property.

What do you call a lessor?

The lessor is more generally known as the landlord, and the lessee as the tenant.

Who is a tenant?

A tenant is someone who pays rent for the place they live in, or for land or buildings that they use. Regulations placed clear obligations on the landlord for the benefit of the tenant.

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