In a commercial lease, the terms Lessor and Lessee identify the two parties involved in the lease agreement. Lessor is the property owner or landlord who grants the right to use the property under the terms of the lease. Lessee is the tenant who receives the right to occupy and use the property in exchange for rent and compliance with the lease terms.
Understanding the definitions is important when reviewing a commercial lease, particularly when determining responsibilities for lease payments (rent), utilities, maintenance, insurance, repairs, improvements, and other obligations.
Whether you lease office, retail, medical, or industrial space, having a clear understanding of your lease can help protect your business and investment.
