What does the term 'lessor' refer to in a lease agreement?

In a lease agreement, the term 'lessor' specifically refers to the landlord or property owner who is providing the property for rent. This individual or entity retains ownership of the property and leases it to another party, known as the lessee or tenant. The lessor grants the tenant the right to use the property for a specified period in exchange for rent, which is typically paid monthly or annually.

The lessor is responsible for maintaining the property and ensuring that it meets legal and safety standards during the lease term. Additionally, it is the lessor's duty to address any significant repairs unless otherwise specified in the lease agreement. Understanding the role of the lessor is crucial for both parties involved in a lease, as it defines their rights and obligations throughout the duration of the tenancy.