landlord and tenant
Parties to the leasing of real estate, whose relationship is bound by contract. The landlord, or lessor, is the owner; the tenant, or lessee, supplies payment in order to enjoy possession and use of the property for a specified period. Important forms of tenancy include tenancy for a fixed period, periodic (seasonal) tenancy, tenancy at will, and holdover tenancy (whereby a tenant remains after the contract has ended). See also real and personal property, rent.
This entry comes from Encyclopædia Britannica Concise.
For the full entry on landlord and tenant, visit Britannica.com.
Seen & Heard
What made you look up landlord and tenant? Please tell us what you were reading, watching or discussing that led you here.