lease
noun

a written contract for letting or renting a building, a piece of land or a piece of equipment for a period against payment of a fee

Example

to rent office space on a twenty-year lease

Usage
the lease expires next year or the lease runs out next year
the lease comes to an end next year
verb
  1. to let or rent offices, land or machinery for a period

    Examples
    • to lease offices to small firms

    • to lease equipment

  2. to use an office, land or machinery for a time and pay a fee

    Examples
    • to lease an office from an insurance company

    • All our company cars are leased.

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