
What is the difference between a landlord and a tenant?
Share
When renting a property, whether commercial or residential, it is essential to have a lease agreement between the landlord and tenant , but what does this mean?
There are different types of contracts used on different occasions, which may include different clauses and parties as well, adapting to each situation in which their use is necessary or recommended.
However, always aiming to clarify the role of each party, determine their obligations, rights and what the rules of that relationship or negotiation are.
In the case of lease contracts, the object is the rental of the property, the parties are the lessor and the lessee and the clauses may vary, although there are standards that appear in almost all contracts of this type.
How important is a lease agreement?
As stated above, the main function of a contract is to determine the rules of a given relationship. The lease agreement may include clauses for contract termination, which provide for how it should be done; term, where the duration of that lease is stipulated; remuneration and payment, where the amount of the monthly rent is set out and how it should be paid.
In addition to these, the clauses on the obligations of the parties and the penalties to which they are subject are essential; most of these are standard, but they can also vary depending on the agreement between the lessor and the lessee.
It is interesting to include a clause that determines the purpose of the lease, so that a residential property is not used as a commercial property, as well as determining whether or not there may be subletting.
There may be more than one lessor and more than one lessee in a single contract, and there may be several variations of clauses.
What is a landlord?
A lease agreement necessarily consists of two parties, one of which is the lessor, who is basically the owner of the property that is the subject of that agreement.
There are exclusive obligations of the lessor, as with rights, the clauses are used to define what these rights and duties will be and how the lease of the property in question will work.
Some factors differentiate the lessor from the lessee, firstly, their role in the lease , where the lessor is providing the object of that contract and receives a value for it, therefore, they have different rights regarding the possibilities of termination, the term and some obligations.
What is a tenant?
While the other party is called the tenant, which can be summarized as an individual or legal entity that makes a payment, which is usually monthly, to rent a property belonging to the landlord.
Because they have a different role in the lease agreement, the tenant and the landlord have different rights and duties, changing the procedures and possibilities for contract termination, the penalties that will be imposed, what can be done on the property and the obligations.
All these factors vary according to what is agreed in each lease agreement, where the clauses must be aligned with these definitions and require mutual approval.
The importance of establishing a lease agreement was clear, which aims, above all, to ensure the security of the parties and the property, in addition to preventing possible misunderstandings caused by poor communication or unforeseen events, which will be addressed through the clauses of the contract.
Furthermore, the distinction between the roles of lessor and lessee is extremely important.
In order to become a tenant, visit our website and see some available properties.