Lease

Leasing is a contractual arrangement in which one party (the leaseholder or tenant operator) obtains the right to use and operate real property—typically land, commercial premises, or industrial sites—in return for regular payments to the owner (the lessor). The leaseholder assumes responsibility for maintenance, management, and operational use while retaining no ownership stake in the asset.

In commercial real estate, leases typically run significantly longer than standard rental agreements, usually spanning a minimum of six to ten years, extending to twenty or thirty years. Lease agreements are formalized through notarial deeds, creating legal certainty for both parties. Leaseholders often have enforceable rights to compensation for improvements they have made if the lease terminates.