We explain what a landlord is, what is the relationship it has with an owner and the obligations of a tenant.
What is a landlord?
A landlord is called one of the two figures participating in a contract leasing or rental. It is specifically the natural person or legal who is the owner of a property (movable or immovable) and who gives it up for rent, assigning the right of use (usufruct) of the same 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 lessor will always be the owner of it, while he will be the lessee. Other terms used for both positions are renter Yrented, home andtenant, etc.
The terms of the legal arrangement between the lessor and the tenant will always be stipulated in a lease or rental contract, protected by the judicial authorities and in accordance with the protocols established in the legal framework of the country where they are located. Under no circumstances what is proposed and accepted there may be illegal, under penalty of making the contract invalid.
Among these agreed terms are: weather of the lease, the specific conditions in which it must occur, the ways to resolve unforeseen events or disagreements and also the amount of the 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 mechanisms and institutions necessary to solve the conflict and do Justice.
The assets leased in this way can be diverse: buildings, apartments, offices, parking lots, empty lots, cars, airplanes, etc.
Landlord and owner
Every landlord must be the owner of the leased property, or in any case must have the necessary powers to carry out the leasing process in question. No one can lease other people's or public property (except the Condition himself), 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 commitment trading. The tenant only acquires the rights to use the property (live in it, transport in it, etc.), but it will always remain the exclusive property of its owner.
In some lawsHowever, in the event that the lessor decides to sell the asset that the tenant has used for some amount of time, the lease may be taken as a purchase obligation in favor of the tenant, that is, the latter must have the first purchase option in case the owner wishes to offer the property for sale.
In some cases, a percentage of what is paid for rent is considered as a partial payment of the sale price of the asset in question.
Lessee
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 of use of a specific movable or immovable property, under contractual conditions of mutual agreement and for a specific time, and that he undertakes in exchange for the regular and monthly payment of an amount also determined.
In less words, a tenant is one who rents something, and acquires the right to use that which he rented, although this will never make it its legitimate and definitive owner.