Lease

A lease is a written agreement under which a property owner allows a tenant to use the property for a specified period of time and rent.  A lease confers a right on one person called a tenant or lessee to possess property belonging to another person called a landlord or lessor, to the exclusion of the owner landlord, and all others except with the invitation of the tenant.  The relationship between the tenant and the landlord is called a tenancy.  The right to possession by the tenant is sometimes called a leasehold interest.  A lease can be for a fixed period of time called the term of the lease.  The consideration for lease is called rent or the rental.


Inside Lease