Lease common terms

Your lease is a legal document, so it uses legal terms. Some of the more common terms are explained here:

Lessee - is you, as the owner of the leasehold for your property.

Lessor - this is Gateshead Council, the freeholder of your property.

Sub-lessee - the person to whom you grant a lease or tenancy - which means your tenant.

The building - the building or block of which your property is part.

The flat (sometimes called the demised premises) - this is your property - the flat number and building name.

Fixtures and fittings - this refers to all non-structural items in a property's purchase. They include kitchen and bathroom units, light fittings, and worktops.

Financial year or accounting period - the period from 1 April in each year to 31 March in the following year.

Term - the lease has been bought for 125 years for Gateshead Council properties bought under Right to Buy.