Leaser

A 'leaser' is a person or entity that grants a lease to another party (the lessee), allowing them to use a specific asset, such as property, equipment, or vehicles, for a defined period in exchange for periodic payments (rent).

The leaser retains ownership of the asset but transfers the right of possession and use to the lessee.

The lease agreement outlines the terms, including the duration, rent amount, maintenance responsibilities, and permitted uses.

Essentially, a leaser acts as a landlord or lessor, providing the asset and receiving compensation.

The responsibilities extend to ensuring the asset's suitability and compliance with relevant regulations.

A leaser may also be involved in renewing or terminating the lease agreement, or dealing with any disputes that arise.

Understanding the leaser's role is crucial for both parties involved in the lease arrangement to ensure a fair and legally sound transaction.

Leaser meaning with examples

• The real estate company, acting as the leaser, carefully vetted the prospective tenants before approving their lease application for the apartment. They ensured the tenants met the financial criteria outlined in the lease agreement.
• As the leaser of the industrial equipment, the company was responsible for regular maintenance to keep the machinery in good working order for the lessee. This helped avoid potential breakdowns during its production runs.
• The car rental agency, operating as the leaser, provided the customer with a detailed contract outlining the terms of the vehicle's usage, including mileage restrictions and insurance coverage.
• Because she owned the building, she served as the leaser for the small business and was tasked with ensuring all building code requirements were met.
• The bank acted as the leaser for the aircraft, financing the purchase and leasing it to various airlines. They retained ownership but the airline paid for the planes use.