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Translate files Lease
/liːs/
Meaning & Definition
noun
A contractual agreement in which one party (the lessor) grants the other party (the lessee) the right to use an asset for a specified period in exchange for payment.
She signed a lease for a new apartment in the city.
The amount of money paid periodically under a lease agreement.
The lease on the office space is due at the end of the month.
verb
To grant or obtain the use of an asset for a specified period in exchange for payment.
They decided to lease a car instead of buying one.
To take on a lease agreement for property or equipment.
The company plans to lease new office equipment next quarter.
Etymology
Middle English 'lesen', from Anglo-French 'leser', from Latin 'lassare' meaning to let go.
Common Phrases and Expressions
sublease
To lease a property to another tenant after renting it.
lease agreement
The formal contract outlining the terms of the lease.
long-term lease
A lease that extends beyond one year.
commercial lease
A lease specific for business properties.
Related Words
tenant
A person who occupies land or property rented from a landlord.
landlord
A person who rents land, an apartment, or other property to a tenant.
Slang Meanings
A lease that feels like a burden or too restrictive.
That lease is such a drag; I can't make any changes to my apartment.
To lease out a property or item casually.
I'm gonna lease out my bike to my friend for a while.