# lease

/ˈɫis/ (US) · /lˈiːs/ (UK)

Source: https://englishreference.com/word/lease
Updated: 2026-06-19

## Senses

### 1. legal agreement

noun · CEFR B2 · Formal

a legal document or contract that allows you to use something, like an apartment or a car, for a set period of time.

For teachers: the formal contract or deed granting exclusive use of real estate or personal property for a limited period.

- Before moving into the new apartment, we had to sign a two-year lease.
- The legal team reviewed the commercial lease thoroughly to ensure the maintenance clauses did not unfairly burden the tenant.

### 2. time period

noun · CEFR B2

the length of time that a rental agreement lasts.

For teachers: the specific duration or term for which a leasehold interest is granted.

- The lease on our office building expires at the end of next month.
- With only six months remaining on the lease, the company began scouting for larger premises in the financial district.

### 3. network address

noun · CEFR C1 · Technical

the temporary time a computer is allowed to use a specific internet address.

For teachers: the temporary assignment of an IP address to a networked device by a server.

- The router provides a 24-hour lease for every device that connects to the Wi-Fi.
- The network administrator shortened the DHCP lease time to ensure that addresses were recycled more frequently in the high-traffic guest lounge.

### 4. to rent out

verb · CEFR B2 · Formal

to allow someone to use your property in exchange for regular payments.

For teachers: to grant a lease as a lessor or landlord; to let property to a tenant.

- The company decided to lease its extra warehouse space to a local business.
- The developer intends to lease the ground-floor units to high-end retailers once the structural renovations are complete.

### 5. to pay to use

verb · CEFR B2

to pay money so that you can use something like a car or a building for a long time.

For teachers: to hold a lease as a lessee or tenant; to take possession of property under a rental contract.

- Many small businesses prefer to lease their equipment rather than buying it.
- Rather than purchasing a fleet of vehicles outright, the logistics firm chose to lease them to preserve their liquid capital.

## Examples

- The lease on my apartment ends in June.
- Before moving in, the tenant signed a two-year lease that fixed the monthly rent at a set price.
- Commercial property developers often prefer long-term leases to ensure a steady stream of revenue, whereas small businesses may seek shorter terms to maintain operational flexibility.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.