We explain what a landlord is, what the relationship is 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 is owner of an asset (movable or immovable) and gives it for rent ceding the right to use (usufruct) thereof to the lessee, in exchange for the agreed monthly payment of an amount of money.
That is to say: in the event that an individual rents an apartment, the landlord will always be the owner of the apartment, while he will be the tenant. Other terms used for both positions are renter and rented, home and tenantetc.
The terms of the legal arrangement between the landlord and the tenant will always be stipulated in a lease or rental contract, protected by judicial authorities and in accordance with the protocols established in the legal framework of the country where they are located. Under no circumstances may what is stated and accepted there be illegal, under penalty of making the contract invalid.
Among these agreed terms are: the length of the rental, the specific conditions under which it must be given, the ways to resolve unforeseen events or disagreements and also the amount of rental 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 necessary mechanisms and institutions to resolve the conflict and provide justice.
The assets leased in this way can be diverse: buildings, apartments, offices, parking lots, empty lots, cars, airplanes, etc.
See also: Heritage
Landlord and owner
Every lessor must be the owner of the leased property or in any case you must have the necessary powers to carry out the rental procedure in question. No one can rent other people's or public property (except the State itself), as this would constitute a case of alienation (theft).
On the other hand, The rented property will never become the property of the tenant unless the lease becomes a purchase-sale commitment. The lessee only acquires the rights to use the property (living in it, traveling in it, etc.), but it will always remain the exclusive property of its owner.
In some legislations, however, in the event that the lessor decides to sell the property that the lessee has already used for some amount of time, The rental contract may be taken as a purchase obligation in favor of the tenant that is, the latter must have the first option to purchase in case the owner or owner wishes to offer the property for sale.
In some cases, a percentage of the rental amount is even considered as partial payment of the sale price of the property in question.
Tenant
The lessee is the opposite figure 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 of mutual agreement and for a certain time, and which is committed in exchange to the regular and monthly payment of a also determined amount.
In less words, a tenant is someone who rents something, and acquires the right to use what he rented, although he will never become its legitimate and definitive owner.
Continue in: Tenant
