Lessor

A lessor is a person or company that owns an asset, such as property, equipment, or vehicles, and grants permission to another party (the lessee) to use it for a specified period in exchange for regular payments called rent or lease payments. Essentially, the lessor retains ownership of the asset but allows someone else to use it temporarily. This arrangement benefits the lessor by generating income from their owned asset, while the lessee gains access to the asset without buying it outright.