Which of the following best describes leaseholders?

Leaseholders are best described as tenants who hold a long-term lease on a property. This definition captures the essence of leasehold arrangements, where individuals or entities secure the right to use and occupy land or property for an extended period, typically many years, as specified in the lease agreement.

In leasehold arrangements, the leaseholder does not own the property outright but has exclusive rights to utilize the property during the lease term. This long-term aspect differentiates leaseholders from other types of tenants who may only have short-term agreements or understandings. It emphasizes the stability and investment that leaseholders often make, preparing them for responsibilities such as maintenance obligations, which may be outlined in the lease terms.

The other options do not align with the specific definition of leaseholders. Individuals who own property outright would be considered freeholders. Residents paying rent for land use only refers to a more transient or less formal agreement that typically does not encompass leasing structures. Lastly, property managers are responsible for the maintenance of properties but do not hold lease rights themselves, thus not fitting the definition of leaseholders.