The agreement between the owner of a property and a tenant (lessee) that defines how the property will be used by the tenant, for what period of time, and how the owner will be paid for that use. The lease also details the property owner’s obligations to the tenant and how the lease may be extended and terminated.
Filed under Asset Management, Operations
Related terms
Keep going with Think
The free membership brings the E-Zine, the newsletter and event replays to your inbox.
Join free