What is a landlord?
We explain what a landlord is, what is the relationship he has with a landlord and the obligations of a tenant.
What is a landlord?
One of the two figures participating in a lease or rental contract is called a lessor . It is, specifically, the natural or legal person who owns a property (movable or immovable) and who gives it for rent , giving the right of use (usufruct) of the same to the lessee, in exchange for the agreed monthly payment of a amount of money.
That is to say: in the case that an individual rents an apartment, the lessor will always be the owner of the same, while he will be the tenant. Other terms used for both positions are hirer and hired , home and tenant , etc.
The terms of the legal arrangement between the lessor and the lessee will always be stipulated in a lease or rental agreement, protected by the judicial instances and in accordance with the protocols established in the legal framework of the country where they are located. Under no circumstances what is raised and accepted there may be illegal, under penalty of making the contract invalid.
Among these agreed terms are: the time of the lease, the specific conditions in which it must occur, the ways to resolve unforeseen or disagreements and also the amount of rent payment and its possible modifications over time.
In the event that the terms of said mutual agreement are breached by either party, the law has the mechanisms and institutions necessary to resolve the conflict and do justice .
The leased assets in this way can be diverse : buildings, departments, offices, parking lots, empty lots, cars, airplanes, etc.
Landlord and owner
Every lessor must be the owner of the leased asset , or in any case must have the necessary powers to make the lease process in question. No one can lease foreign or public property (except the State itself), as this would constitute a case of alienation (theft).
On the other hand, the rented asset will never become the property of the lessee , unless the lease becomes a purchase-sale commitment. The lessee acquires nothing more than the rights to use the property (live in it, transport it, etc.), but this will always remain the exclusive property of its owner.
In some laws , however, in the event that the lessor decided to sell the good that the lessee has used for some amount of time, the lease may be taken as a purchase obligation in favor of the lessee , that is, the latter You must have the first purchase option in case the owner or owner wishes to do good for sale.
Even in some cases a percentage of the rent paid is considered as partial payment of the sale price of the good in question.
The lessee is the figure contrary to the lessor in a lease or rental contract: it is the person, natural or legal, who acquires the rights to use a specific movable or immovable property , under contractual conditions by mutual agreement and for a certain time, and that it undertakes in exchange for the regular and monthly payment of an amount also determined.
In less words, a tenant is the one who rents something, and acquires the right to use that he rented, although never for that reason will he become his legitimate and definitive owner.