What is one primary responsibility of the lessee in a leasing agreement?

In a leasing agreement, one primary responsibility of the lessee is to operate and maintain the asset. This means that while the lessee does not own the asset outright, they have the obligation to ensure that it is used properly and kept in good condition throughout the duration of the lease. This can include regular maintenance, repairs, and following any usage guidelines set by the lessor.

Proper operation and maintenance are essential, as failure to uphold these responsibilities may lead to penalties or additional costs at the end of the lease term. By ensuring the asset remains functional and well-maintained, the lessee not only protects their investment in the lease but also prepares the asset for potential future use by others.

This aspect of leasing fosters a responsible relationship between the lessee and the lessor, as the lessor relies on the lessee to manage the asset respectfully and effectively.