Landlord

Definition

• An individual who owns property that is rented or leased to another individual or business. Both the landlord and renter enter into a contract called a "rental agreement" or "lease" which outlines each party's responsibilities as it relates to their relationship. Also known as a "lessor," "owner," or "landlady" for female owners.

Synonyms
lessor, landlady, owner

Related Terms and Acronyms

• Eviction — Definition,
  • The act of kicking someone out of a property, usually for violating terms of a lease.
• Lease (lse) — Abbreviation,
  • A written agreement in which the property owner allows a tenant to use property in exchange for rent, and for a specified period. Or, a written agreement in which a car dealer allows a consumer to use a vehicle in exchange for payments for a specified period.
• Lessee — Definition,
  • The person who signs a lease.
• Lessor — Definition,
  • The person who grants a lease.
• Non-owner Occupant — Definition,
  • A borrower who purchases a property for investment or rental purposes and will not occupy the property.
• Proprietor — Definition,
  • The owner of a business or property.
• Province of Domicile — Definition,
  • The province where an individual lives or intends to live permanently or for a long term, regardless of the individual's current location.
• Rent — Definition,
  • When one party pays another for the use of an asset, service or property.
• Rent Loss Insurance — Definition,
  • Hazard insurance that pays for a loss in rental value or rental income if damage causes the property to become unfit for habitation.
• Rental Agreement (RA) — Acronym, Important,
  • A document that states the terms and conditions for tenancy of a dwelling.
• Rental Property (RP) — Acronym, Important,
  • Property that is occupied by rent-paying tenants and not the owner.
• Renter's Insurance — Definition,
  • Insurance that covers renters for liabilities or damages occurring to or within insured property.
• Security Deposit (sec, sec dep) — Abbreviation,
  • In automobile leases, sometimes called reconditioning reserve. An amount, often the same as one month's payment, the dealer holds to be sure that the car will be returned in good condition. It is to be returned, less fees and damage charges, at the end of the lease.
• Sublet — Definition,
  • An arrangement where a tenant leases property to a subtenant.
• Tenant — Definition,
  • One who rents property.