Humber College Real Estate Course 1 Practice Exam

The definition of a landlord or lessor in real estate is any individual or corporation who leases property to another. This captures the essence of the landlord's role, which involves offering a property—such as residential, commercial, or industrial real estate—for lease or rental to a tenant, also known as a lessee. The landlord retains ownership of the property while granting rights to the tenant through a lease agreement, allowing the tenant to occupy and use the property under specific terms outlined in that agreement.

In contrast, the other options do not accurately define a landlord or lessor. An individual seeking to buy property refers to a buyer, not a lessor, as they are interested in ownership rather than lease arrangements. A tenant who rents an apartment represents the opposite party in the landlord-tenant relationship, and thus cannot be considered a landlord. A real estate agent renting out properties acts as an intermediary between landlords and tenants, facilitating transactions but not holding the ownership interest associated with being a landlord. Therefore, the definition that captures the full role and responsibilities of the landlord is precisely that of an individual or corporation leasing property to another.