noun

lessor

le-SOR/leˈsɔːr/

A person or organization that grants a lease.

The lessor signs the agreement before handing over the keys.

A residential lessor providing an apartment to a new tenant while collecting rent from an established tenant in the same small building.

Etymology

The underlying verb meant “to let” or “to leave”; here, letting means making property available for another to rent. The agent ending identifies the party who grants the lease.

More examples

The lease requires the lessor to pay for major repairs.
Our company is the lessor of the construction equipment.
Both lessors must approve any changes to the agreement.

Forms

lessor · lessors

lease noun — An agreement allowing temporary use of property.

lessee noun — A person or organization receiving a lease.

Similar words

landlord: Usually refers to someone who rents out real estate.