Real Estate InvestingHomebuying Glossary
Tenant
A person who rents and occupies a property under a lease, without owning it.
In plain English
A tenant pays rent to occupy a property under the terms of a lease agreement, with rights and responsibilities defined by that lease and by state and local landlord-tenant law.
Why it matters
If you're house hacking or buying a property with existing renters, you inherit the existing lease terms and tenant rights along with the property.
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