Rationales for Real Estate Leasing versus Owning

John Benjamin, Cris de la Torre and Jim Musumeci

Journal of Real Estate Research, 1998, vol. 15, issue 3, 223-238

Abstract: In this article, rationales for the widespread existence of commercial real estate leasing are examined. Given the tendency of tenants to abuse property to their own advantage, there must be powerful incentives on the other side to encourage landlords and property managers to participate in the widespread practice of leasing. We suggest that common leasing practices are the consequence of many rationales, including the ability of the landlord to solve free-rider problems in maintaining property desirability and informational asymmetries that exist between landlords and tenants.

Date: 1998
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DOI: 10.1080/10835547.1998.12090924

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