Lessee

The lessee is the party in a lease agreement who obtains the right to occupy and use a property in exchange for rent paid to the lessor (property owner). In commercial real estate, the lessee is the tenant — a business or individual leasing office, retail, industrial, or other commercial space.

The lessee’s rights and obligations are defined by the lease agreement, including permitted use of the space, subletting rights, maintenance responsibilities, and conditions for renewal or termination. The lessee does not hold ownership of the property but has a legal possessory interest for the duration of the lease term.