Lessor

Definition

• The individual or company that grants a lease to the lessee.

Synonyms
land owner, owner, landlord, property owner

Related Terms and Acronyms

• Ground Rent — Definition,
  • Amount a leaseholder pays periodically for use of land only.
• Income Property — Definition,
  • Real estate developed or improved to produce income. Also referred to as "non-owner occupied property" or "rental property."
• Landlord — Definition,
  • One who rents or leases his or her property to another person or a business.
• Lease (lse) — Abbreviation,
  • A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
• Non-owner Occupant — Definition,
  • A borrower who purchases a property for investment or rental purposes and will not occupy the property.
• Rent — Definition,
  • When one party pays another for the use of an asset, service or property.
• Rent Loss Insurance — Definition,
  • Hazard insurance that pays for a loss in rental value or rental income if damage causes the property to become unfit for habitation.
• Rental Agreement (RA) — Acronym, Important,
  • A document that states the terms and conditions for tenancy of a dwelling.
• Rental Property (RP) — Acronym, Important,
  • Property that is occupied by rent-paying tenants and not the owner.
• Renter's Insurance — Definition,
  • Insurance that covers renters for liabilities or damages occurring to or within insured property.
• Step Down Lease — Definition,
  • A lease providing for decreases in rental payment at specified dates.
• Step Up Lease — Definition,
  • A lease providing for increases in rental payment at specified dates.
• Sublet — Definition,
  • An arrangement where a tenant leases property to a subtenant.