The property owner or authorized party that grants a tenant the right to occupy commercial space under a lease agreement, in exchange for rent and compliance with lease obligations.
In commercial real estate, the landlord is typically a legal entity — an LLC, partnership, REIT, or corporation — rather than an individual. The landlord's obligations under the lease include delivering possession, maintaining structural elements, providing agreed services, and honoring tenant rights such as renewal and expansion options. Lease abstracts must capture the landlord's legal name exactly as it appears in the lease, the landlord's notice address, and any provisions allowing landlord to transfer its obligations upon sale of the property. When a building is sold, the new owner typically assumes all landlord obligations, but tenant notification and SNDA execution are critical steps.
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