A landlord is a natural or legal person who, according to a lease, is obliged to have to transfer the temporary use of a good to a lessee. Normally, this action is usually done periodically and over a period of time.
The landlord, however, does not have to be the owner of the good, but of an institution that manages and controls Holiday of someone and profit through it. This usually occurs, above all, between legal persons.
The landlord may require a one-time payment for rent, or there is also the alternative of receiving as retribución a good with a price equivalent to the one leased.
Rights and obligations of the landlord
The lessor agrees to the following obligations:
- Assign custody of the property you lease
- Conditioning the house (if it is the result of the lease) so that it can be inhabited. Small repairs to be able to live in it and the wear and tear of daily use will be the problem of the tenant (to whom the property is leased).
- The person who rents must, in addition, notify the tenant if he wants to sell the house. Although this will depend on the legislation of the country.
On the other hand, the rights that the landlord has are:
- Receive rent from the tenant in the time and under the conditions that have been agreed upon for transferring the real estate.
- The landlord may request guarantees such as bank guarantees or personal bonds to be able to secure the property that is going to be transferred, depending on the contract and the amount that is committed in the negotiation.
- If the tenant is not notified of the renovations to be made in the property, he can terminate the contract.
- Real estate tenants may not extend the rental contract of the property by giving advance notice (normally 30 days before).