Leases

A lease is a legal agreement where one party, the lessor (owner), allows another party, the lessee (tenant), to use an asset—usually property, such as an apartment or car—for a specified period, in exchange for regular payments. The lease outlines the terms, including rent amount, duration, and responsibilities for maintenance. At the end of the lease, the lessee typically returns the asset to the lessor. Leases provide flexibility for users, allowing access to property or equipment without the need for outright purchase, while also offering security to owners regarding their assets.