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daily soar is a property owner who rents
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their property to a tenant oiley C is a
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tenant who pays to rent the property
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real estate professionals must learn the
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difference between these two important
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terms along with their relationship with
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each other for the real estate exam
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hello everybody it's Zach here from Real
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Estate licenseward.com today we're
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talking about Lisi versus lisor let's
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get started so what is a leasor wellesor
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is a property owner who agrees to lease
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out their property to an individual
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family or business for a specific period
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of time resource can be either
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individuals or business entities in any
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case the lisor is the legal owner of the
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property now what is LEC what you see is
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an individual family or business who
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rents property from lisor leases often
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referred to as tenants can live or use
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the property as long as they abide by
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the terms of the lease agreement now
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leases make a one-time payment or
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periodic lease payments to continue
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occupying the rented space now let's go
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over some specific examples between the
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differences between the two 2 obviously
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compensation is part of it Elise or
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receives you know whatever the least
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specified in terms of amount for renting
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out that property well elisee can occupy
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the property in exchange for making rent
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payments and then obviously there's
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responsibilities for maintenance and
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utilities depending on the contract they
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could fall on the tenant or the leasi or
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the lease or and then obviously again
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the possession of the property at the
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end of the day the leasy is the one
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physically possessing the property
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during the duration of the lease the
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lease ore is not so this is all outlined
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in something called a lease agreement
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and I'll put this on the screen
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basically a lease agreement should cover
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the following information the name of
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every tenant living on the property
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determine the lease and he limits the
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least the costs and rent and payment
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schedule deposits fees rules about any
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pets things like that and any other
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restrictions now you might be watching
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this video and think okay Zach this is
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pretty simple you know I'm not going to
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get this mixed up but you'd be surprised
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when your test comes up and you know
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pressure's on the line sometimes people
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get these two terms mixed up so I'm
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going to put this list of words on the
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screen you'll be able to see them and
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essentially they are two different
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versions of the same you know part of
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the word but uh it's actually a
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different word and that's because of the
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relationship so the or in these words on
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the left are the givers and the ee on
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the words on the right are the receivers
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and that's how you need to remember you
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know really the difference between these
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terms and this is kind of like the whole
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purpose of the video is to explain that
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relationship because if you see words uh
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like mortgage e offeree or like in our
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case Lee c they are receiving purchasing
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or acquiring something whereas uh the
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ORS is the opposite they are either
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selling it or granting it or you know
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trusting it or whatever it might be so
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really that's the relationship between
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those two terms and the best way that I
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really think about it is just again the
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or R is the giver and the ee is the
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receiver if you can remember that you
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know all these terms are going to be
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super easy for you to understand and
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digest and when it comes time for your
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exam you will not be confused so what do
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you need to know for the real estate
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exam well Elise or is the owner who
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rents the property out to tenants or
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elisee is a tenant who signs a lease to
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occupy the property the best way to
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remember this is utilizing that eeor or
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the ore role remember remember if you
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see the or that is the giver and the ee
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is the receiver so in our case with the
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lease or they're giving the right to uh
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you know use or to have somebody to come
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in and live in that property well the
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Lee c is receiving that right they're
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receiving it they're receiving that
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right to you know habit that property if
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you could remember that you'll be good
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to go exam day and that's pretty much it
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for more videos on leases lease
3:54
agreements things like that in that
3:55
nature click the video here and click
3:57
here to subscribe thank you guys so much
3:59
for watching till next Sam see ya bye
