Lessor vs lessee- What is these terms?

[rajivkumar]

I’m reviewing accounting standards and need some clarity on the treatment of lessor vs lessee in financial statements.

 

[alenaghose]

A lessor, sometimes referred to as the owner of property, equipment, or vehicles, is a party that grants another party the right to use the property under a lease agreement. The individual or business that hires or rents the asset and pays a certain amount to the lessor on the usage of the asset is known as the lessee.

 

[Jarwish]

A lessor is the property owner who grants the lease, while a lessee is the tenant who pays rent to use the property under the lease agreement.

 

[nikhilrajoria]

The owner who rents out the property or equipment is known as a lessor, and the person/company that rents the property or equipment is known as the lessee.

 

[robertwilliam]

A lessor is the owner of a property or asset who rents it out, granting use rights to another party under a lease agreement. A lessee is the party who obtains the right to use the lessor's property or asset, typically in exchange for periodic payments over a specified term.

 

[Olivia]

Lessor is the person or company that owns something and leases it out (rents it to others).
Lessee is the person or company that rents or leases the item from the lessor.

 

[devinluke]

A lessor is the owner who rents out an asset, like property or equipment, while a lessee is the person or business using it by paying rent. For example, if a landlord rents an apartment, the landlord is the lessor and the tenant is the lessee.

 

[Rick_Grimes]

A lessor is the owner who rents out property or equipment. A lessee is the person or business that rents or leases it from the owner.

 

[Shane Warne]

A lessor is the owner of an asset (like property, equipment, or land) who grants another party the right to use it. A lessee is the user or tenant who pays rent or lease payments to the lessor in exchange for using that asset.

 

[stevesmith]

Under a lease arrangement, a lessor—also known as the owner of real estate, machinery, or automobiles—grants another party the right to use the property. The person or company that hires or rents the asset and pays the lessor a specific sum for its use is referred to as the lessee.