Meaning of the word lease in English

What does lease mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

lease

US /liːs/

UK /liːs/

a contract by which one party grants to another the use of a specific asset for a specified period, usually in return for periodic payments

Example:

•

We signed a three-year lease for the apartment.

•

The company decided to take out a new lease on the office space.

Synonym:

rental agreement tenancy agreement charter contract

to grant the use or occupation of (land, buildings, or equipment) under a lease

Example:

•

The landlord agreed to lease the property to us for five years.

•

Many businesses choose to lease equipment rather than buy it outright.

Synonym:

rent hire charter

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Related Word:

capital lease