Operating Lease By entering into an operating lease, the lessee does not wish to own or control the asset after the lease period. In other words, the lessee does not wish to take on the risk of asset investment. The lessee does not have a purchase option for the asset.   That means that the lessor typically has the asset risk but also can charge higher lease rentals to the lessee than on a pure financial lease.   The latest technique of leasing combines the Financial Lease with the Operating Lease and provides flexibility to lessees with regard to asset risk allocation.