Publish your web application so that all the code behind the files is compiled into a dll. Thus, they cannot easily see your code. However, they will be able to use reflection to see the code using tools like jetBrains dotPeeek.
The best option.
Take the site yourself, but since this does not answer your question, here are some other options.
1st option
If the client insists on hosting the site because he agrees with the ownership of the data, then allow them to host the site and the database, but use the functionality from a centralized website that you control. You can even provide api.
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