A tip on drafting leases: Embrace the “Landlord” — no, not that kind of embrace. Embrace the word.
William Nickerson, in his classic work on investing in real estate, recommended using the terms “Lessor” and “Lessee” in leases. He thought that “Landlord” sounded like a relic of the feudal era, and that it offended tenants.
He may have been right about the effect on tenants, but he was wrong about the effect on contracts. If you use “Lessor” and “Lessee” to identify the parties to a lease, you’re much more likely to mistake one term for the other when you’re proofreading the agreement. No one mistakes “Landlord” for “Tenant,” but casual readers can easily mistake “Lessor” for “Lessee.” It’s a whimsical mistake to make — unless you’re the “Lessor” to whom the lease assigned maintenance and repair responsibilities that you wanted to be the tenant’s responsibility, and that your tenant now wants you to fulfill.
Don’t be afraid to be the “Landlord” in the lease: it’s a lessor evil (sorry) than being mistaken for the tenant.
