Lease
A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased.
Broadly put, a lease agreement is a contract between two parties, the lessor and the lessee. The lessor is the legal owner of the asset; the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree that the car will only be used for personal use.
The narrower term rental agreement can be used to describe a lease in which the asset is tangible property. Language used is that the user rents the land or goods let out or rented out by the owner. The verb to lease is less precise because it can refer to either of these actions. Examples of a lease for intangible property are use of a computer program (similar to a license, but with different provisions), or use of a radio frequency (such as a contract with a cell-phone provider).
The term rental agreement is also sometimes used to describe a periodic lease agreement (most often a month-to-month lease) internationally and in some regions of the United States.
Lease (verb)
to gather.
Lease (verb)
to pick, select, pick out; to pick up.
Lease (verb)
to glean.
Lease (verb)
to glean, gather up leavings.
Lease (verb)
To tell lies; tell lies about; slander; calumniate.
Lease (verb)
To release; let go; unloose.
Lease (verb)
To operate or live in some property or land through purchasing a long-term contract (or leasehold) from the owner (or freeholder).
Lease (verb)
To take or hold by lease.
Lease (verb)
To grant a lease; to let or rent.
Lease (noun)
an open pasture or common
Lease (noun)
A contract granting use or occupation of property during a specified period in exchange for a specified rent
Lease (noun)
The period of such a contract
Lease (noun)
A leasehold
Lease (noun)
The place at which the warp-threads cross on a loom.
Rent (noun)
A payment made by a tenant at intervals in order to occupy a property.
Rent (noun)
A similar payment for the use of equipment or a service.
Rent (noun)
A profit from possession of a valuable right, as a restricted license to engage in a trade or business.
“A New York city taxicab license earns more than $10,000 a year in rent.”
Rent (noun)
An object for which rent is charged or paid.
Rent (noun)
Income; revenue.
Rent (noun)
A tear or rip in some surface.
Rent (noun)
A division or schism.
Rent (verb)
To occupy premises in exchange for rent.
Rent (verb)
To grant occupation in return for rent.
Rent (verb)
To obtain or have temporary possession of an object (e.g. a movie) in exchange for money.
Rent (verb)
To be leased or let for rent.
“The house rents for five hundred dollars a month.”
Rent (verb)
simple past tense and past participle of rend
Lease (noun)
a contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment
“a six-month lease on a shop”
Lease (verb)
grant (property) on lease; let
“she leased the site to a local company”
Lease (verb)
take (property) on lease; rent
“land was leased from the Duchy of Cornwall”