Property leasing is a legal agreement where a property owner, known as the lessor, allows another party, called the lessee, to use their property for a specified period in exchange for rent. This arrangement can apply to various types of properties, including residential homes, commercial spaces, and industrial buildings. The lease outlines the terms, such as duration, payment amount, and responsibilities for maintenance. Leasing provides benefits for both parties. The lessor receives a steady income while retaining ownership of the property, and the lessee gains access to a space without the long-term commitment of buying. This flexibility makes leasing a popular choice for many individuals and businesses.