What is the primary role of a lessor?

Study for the New Mexico Broker State Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The primary role of a lessor is to serve as the landlord in a rental agreement. This means that the lessor is the party that owns the property and rents it out to a tenant, known as the lessee. The lessor is responsible for providing the leased property in a condition suitable for occupancy and must ensure that it complies with applicable laws and regulations.

In this capacity, the lessor has the authority to set lease terms, including the rental price, duration of the lease, and any rules governing the use of the property, which may align with option B. However, the defining characteristic of the lessor's role is that they are the entity granting the lease to the tenant, thereby making them the landlord in the transaction. While managing the property for tenants is important, that is usually a function performed by property managers rather than the lessor themselves. Being a tenant in an agreement, as suggested by option C, does not apply to the lessor's role, as they are the party offering the property for rent.

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