noun
- a legal agreement that allows someone to use property, equipment, or land for a specified period in exchange for payment
verb
- to rent property, equipment, or land to someone for a specified period
- to rent property, equipment, or land from someone for a specified period
Examples
- The apartment lease expires next month.
- We signed a two-year lease for the office space.
- The company decided to lease new computers instead of buying them.
- They lease their farmland to local farmers.
- She plans to lease a car for her business trips.
- The lease includes utilities and parking.
- Many businesses lease equipment to reduce upfront costs.