Common Landlord and Tenant Terms

LANDLORD

The person from whom another holds tenancy (rents or leases property).

LEASE

Contract between landlord (lessor) and tenant (lessee) for the occupation or use of the landlord's property by the tenant for a specified time and for a specified consideration (rental).

LESSEE

Tenant under a lease.

LESSOR

The person who grants use of property under lease to a tenant.

RENEWAL

Re-negotiation of a lease agreement at the end of a term for a new term.

RENT

The compensation paid for the temporary use, and/or occupation of real estate.

Trademarks owned or controlled by the Canadian Real Estate Association. Used under licence.