lease

An agreement allowing you to use a building or land for a fixed time in exchange for payment.

• I signed the lease yesterday.
• The landlord agreed to renew our lease.
• Read the lease carefully before you move in.

How to use it: a lease on something (We signed a lease on a small office.)

Similar words: rental agreement, tenancy agreement

Common phrases: sign a lease, renew the lease, lease agreement, hold a lease

The length of time you are allowed to use rented property under an agreement.

• The lease lasts five years.
• Our lease ends in June.
• Only six months remain on the lease.

Similar words: lease term, rental period

Common phrases: a long lease, during the lease, lease expires

To get the right to use property by agreeing to pay its owner for a fixed time.

• We plan to lease an office.
• She leased the shop from its owner.
• They have leased this land for twenty years.

How to use it: lease something from someone (They leased the land from a local farmer.)

Similar words: rent

Common phrases: lease a property, lease from someone, lease some land, lease an apartment