Tenant of fields and house with tree outside (11)

I believe the answer is:
leaseholder
'tenant' is the definition.
(leaseholder is a kind of tenant)
'fields and house with tree outside' is the wordplay.
I cannot quite see how this works, but
'fields' could be 'leas' (lea can mean a field or meadow) and 'leas' is located in the answer.
'house' could be 'ho' (abbreviation for house) and 'ho' is present in the answer.
'tree' could be 'elder' (elder is a kind of tree) and 'elder' is found in the remaining letters.
This accounts for all the letters.
This may be the basis of the clue (or it may be nonsense).
'of' acts as a link.
Can you help me to learn more?
(Other definitions for leaseholder that I've seen before include "Person with property rights" , "One renting property" , "Tenant" .)