Real Estate Term of the Day: Landlord, Lease, Lessor, Lessee, Rent, Tenant

Real Estate Term of the Day: Landlord, Lease, Lessor, Lessee, Rent, Tenant

LANDLORD – one who rents property to another; a lessor. A property owner who surrenders the right to use property for a specific time in exchange for the receipt of rent. (Barron’s Dictionary of Real Estate Terms) 

LEASE – a contract in which, for a payment called rent, the one entitled to the possession of real property (lessor) transfers those rights to another (lessee) for a specified period of time. (Barron’s Dictionary of Real Estate Terms)

LESSEE – a person to whom property is rented under a lease. A tenant. (Barron’s Dictionary of Real Estate Terms)

LESSOR –  one who rent a property to another under a lease. A landlord. (Barron’s Dictionary of Real Estate Terms)

RENT – a charge for the use of space. (Barron’s Dictionary of Real Estate Terms)

TENANT – one who is given possession of real estate for a fixed period or at will. (Barron’s Dictionary of Real Estate Terms)

Landlord & Tenant

Source: Barron’s Dictionary of Real Estate Terms

In the State of Colorado, there is not a standard lease agreement. If you are considering leasing your property to a tenant, here is a good guide published by Bradford Publishing that will help you get started:

Landlord and Tenant Guide

Order your copy here