Lessor Law and Legal Definition
A Lessor is the owner of the property who rents it to another party, called the lessee. A lessor may be an individual, a partnership, estate, governmental department or agency, or a joint tenant. Certain rights and duties are associated with lessors and lessees. A lessor has the right to see that the tenant pays rent on time, and abides by the terms of the lease. A lessor may evict a tenant, and may be able to keep all or part of the tenant’s security deposit if the tenant is behind on rent. On the other hand, a lessor has a legal obligation to provide premises that are clean and in a good state of repair before a tenant moves in; respect the tenant's right to quiet enjoyment of the rental property; ensure security by supplying and maintaining locks, keys and devices; carry out repairs and maintenance of the rental premises so that it is in good condition; and comply with the laws regarding health and safety of people using or entering the property. A lessee may move out of the leased property, make a reduced payment of the rent, or withhold the entire rent if the lessor fails to fulfill his/her legal duties. In some cases, a lessor may be sued for discomfort, annoyance, and emotional distress caused by substandard conditions. Lessors are allowed to enter the rental premises to make repairs while the tenant is living there only after giving a specific amount of notice Usually the notice period is 24 or 48 hours. In some states, landlords must provide a "reasonable" amount of notice, legally presumed to be 24 hours.
A commercial lease is a detailed written agreement for the rental by a tenant of commercial property owned by the landlord. Commercial property differs from residential property in that the property's primary or only use is commercial (business oriented), rather than serving as a residence. Commercial leases are often more complex than residential leases, have longer lease terms, and may provide for the rental price to be tied to the tenant business's profitability or other factors, rather than a uniform monthly payment (though this is also quite ordinary in commercial leases). A "triple net" lease includes both taxes and insurance in the rent.