Business Dictionary :

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

Long Lease = lease which runs for fifty years or more

Short Lease = for up to two or three years

  • To take an office building on a long lease

  • We have a short lease on our current premises

  • To rent office space on a twenty-year lease

  • Full Repairing Lease = lease where the tenant has to pay for all repairs to the property

    Head Lease = lease from the freeholder to a tenant

    Sublease = lease from a tenant to another tenant

    Under Lease = lease from a tenant to another tenant
  • The lease expires or runs out in 1989.

  • The lease comes to an end in 1989.

  • On expiration of the lease = when the lease comes to an end
  • To hold an oil lease in the North Sea…

  • To have a lease on a section of the North Sea to explore for oil…

  • Lease : verb : to let or rent offices or land or machinery for a period
  • To lease offices to small firms

  • To lease equipment

  • Lease : verb : to use an office or land or machinery for a time and pay a fee
  • To lease an office from an insurance company…

  • All our company cars are leased.

  • Lease Back : verb : to seal a property or machinery to a company and then take it back on a lease
  • They sold the office building to raise cash and then leased it back for twenty-five years.

  • Lease-Back : noun : arrangement where property is sold and then taken back on a lease
  • They sold the office building and then took it back under a lease-back arrangement.

  • Leasehold : noun & adjective : holding property on a lease
  • Leasehold property…

  • The company has some valuable leasehold.

  • To buy property leasehold…

  • Leaseholder : noun : person who holds a property on a lease

    Leasing : noun : which leases or working under a lease
  • The company has branched out into car leasing.

  • An equipment-leasing company…

  • To run a copier under a leasing arrangement…

  • NOTE : No plural

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