lease
B2Formal; primarily legal, business, and financial contexts.
Definition
Meaning
A contract by which one party conveys land, property, services, or equipment to another for a specified time, usually in return for periodic payments; also, the act of granting or holding such a contract.
The word extends to the right to use the leased asset, the duration of the contract, the document detailing the agreement, and can be used in IT contexts for leasing IP addresses or server space. In law, it implies a lessor-lessee relationship.
Linguistics
Semantic Notes
"Lease" typically implies a temporary arrangement with specific terms, distinguishing it from an indefinite rental agreement or ownership. As a verb, it involves the actions of both the lessor (to lease out) and the lessee (to lease from).
Dialectal Variation
British vs American Usage
Differences
Usage is largely identical. Minor differences exist in administrative terms (e.g., "ground rent" associated with long leases in UK property law). The concept of a 'leasehold' is more central to UK property ownership.
Connotations
In both varieties, it connotes formality, legality, and a commercial or long-term residential arrangement. In UK, "leasehold" vs. "freehold" is a significant property distinction.
Frequency
Equally common in both dialects within real estate and business domains.
Vocabulary
Collocations
Grammar
Valency Patterns
to lease something (to/from someone)to lease out somethingto have/take something on leaseto be leased for (a period)to be under lease (until a date)Vocabulary
Synonyms
Strong
Neutral
Weak
Vocabulary
Antonyms
Phrases
Idioms & Phrases
- “a new lease of life (UK) / a new lease on life (US): a renewed energy or opportunity”
Usage
Context Usage
Business
Common for assets like equipment, vehicles, and office space ("We'll lease the fleet to reduce capital expenditure").
Academic
Used in law, economics, and urban studies papers to discuss property rights, finance, and contract theory.
Everyday
Primarily for housing ("Our apartment lease is for 12 months") and cars ("He leased a new electric car").
Technical
In IT/networking: "DHCP server leases an IP address to a client for a set time."
Examples
By Part of Speech
verb
British English
- The landlord decided to lease the flat to a young couple.
- They are leasing the photocopier from a local supplier.
American English
- We plan to lease a sedan for three years.
- The corporation leased the entire building for its headquarters.
adverb
British English
- (Rarely used; "on lease" acts as an adverbial phrase) The equipment was acquired on lease.
American English
- The car is available lease-to-own.
adjective
British English
- Please review the lease document carefully.
- The lease term is fixed at five years.
American English
- She checked the lease agreement for any hidden fees.
- What is the total lease payment per month?
Examples
By CEFR Level
- We have a lease for our flat.
- The lease is for one year.
- My car lease ends next month.
- They signed a two-year lease on the office.
- The tenant broke the lease by subletting the property.
- We are considering whether to lease or buy the new machinery.
- The intricate clauses in the commercial lease required legal scrutiny.
- The government leased out the land to developers under a 99-year agreement.
Learning
Memory Aids
Mnemonic
Think of a LEAse as a LEAgreement that is a promiSE. It's a formal promise about property use.
Conceptual Metaphor
TIME IS A COMMODITY (you pay for a block of time to use an asset).
Watch out
Common Pitfalls
Translation Traps (for Russian speakers)
- Do not confuse with 'лизинг' (financial leasing). 'Lease' is broader, covering real estate, while 'лизинг' is a specific finance product.
- Translating 'аренда' can be 'lease' (long-term, formal) or 'rental' (short-term, informal).
Common Mistakes
- Using 'rent' interchangeably in all contexts; 'lease' is more formal and bound by a written contract. Incorrect: "I lease a movie." Correct: "I rent a movie."
- Confusing subject: "The company leases him the car" is less common than "The company leases the car to him."
Practice
Quiz
Which phrase uses 'lease' correctly in a business context?
FAQ
Frequently Asked Questions
A 'lease' is typically a longer-term, formal contract, often for property or expensive assets, with fixed terms. 'Rent' is often shorter-term, more flexible, and used for everyday items. In law, 'lease' is the legal contract itself.
Yes. 'To lease something to someone' means to grant a lease (lessor's action). 'To lease something from someone' means to hold a lease (lessee's action). The phrase 'lease out' clarifies the lessor's role.
It's an idiom meaning a renewed energy, enthusiasm, or opportunity for something or someone, as if given a fresh start.
Leasehold is a form of property tenure where you own the property (e.g., a flat) for a fixed term under a lease from the freeholder (landowner), often involving ground rent and service charges.