Lessees

A lessee is a person or organization that rents or leases property, such as an apartment, office space, or equipment, from a lessor (such as the property owner). The lessee pays regular rent payments and has the right to use the property or equipment for the agreed-upon period. In essence, the lessee does not own the asset but has legal permission to use it under specified terms and conditions. This arrangement allows the lessee to access and utilize the asset without the high upfront costs of purchasing.