A Lessee refers to a person, entity, or party that leases or rents a property from the owner. The lease agreement is a contract that outlines the terms and conditions of the rental, including the duration of the lease, the rent amount, the responsibilities of the lessee, and other related details.
The lessee gains possession and use of the property for a specified period in exchange for a series of rental payments. However, the lessor (the property owner) retains ownership and certain rights, depending on the terms of the lease.
In real estate investments, lessees play a crucial role, as they provide a steady income stream to the property owner or investor. The relationship between the lessee and lessor, along with the terms of the lease, can greatly impact the value and return on investment for the property.