English

Definition of lease noun from the Oxford Advanced Learner's Dictionary

 

lease

 noun
noun
BrE BrE//liːs//
 
; NAmE NAmE//liːs//
 
Renting a home
 
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  • a legal agreement that allows you to use a building, a piece of equipment or some land for a period of time, usually in return for rent to take out a lease on a house The lease expires/runs out next year. Under the terms of the lease, you have to pay maintenance charges. Wordfinderaccommodation, deed, home, house, lease, let, location, mortgage, squat, tenant CollocationsMoving house Renting live in a rented/(especially North American English) rental property rent/​share/​move into a furnished house/(British English) flat/(especially North American English) apartment rent a studio/(British English) a studio flat/(especially North American English) a studio apartment/(British English) a bedsit find/​get a housemate/(British English) a flatmate/(North American English) a roommate sign/​break the lease/​rental agreement/​contract extend/​renew/​terminate the lease/(British English) tenancy afford/​pay the rent/​the bills/(North American English) the utilities (especially British English) fall behind with/ (especially North American English) fall behind on the rent pay/​lose/​return a damage deposit/(North American English) security deposit give/​receive a month’s/​two-weeks’ notice to leave/​vacate the propertyBeing a landlord have a flat/​apartment/​room (British English) to let/(especially North American English) for rent rent (out)/lease (out)/ (British English) let (out)/sublet a flat/​apartment/​house/​property collect/​increase/​raise the rent evict the existing tenants attract/​find new/​prospective tenants invest in rental property/(British English) property to let/(British English) the buy-to-let marketBuying buy/​acquire/​purchase a house/(a) property/(especially North American English) (a piece of) prime real estate call/​contact/​use (British English) an estate agent/(North American English) a Realtor™/(North American English) a real estate agent/​broker make/ (British English) put in an offer on a house put down/​save for (British English) a deposit on a house make/​put/​save for (especially North American English) a down payment on a house/​home apply for/​arrange/​take out a mortgage/​home loan (struggle to) pay the mortgage make/​meet/​keep up/​cover the monthly mortgage payments/(British English also) repayments (British English) repossess/ (especially North American English) foreclose on somebody’s home/​houseSelling put your house/​property on the market/​up for sale/​up for auction increase/​lower your price/​the asking price have/​hold/​hand over the deed/(especially British English) deeds of/​to the house, land, etc. See related entries: Renting a home
  • Word Origin late Middle English: from Old French lais, leis, from lesser, laissier ‘let, leave’, from Latin laxare ‘make loose’, from laxus ‘loose, lax’.Extra examples He took a lease of the premises. She has taken out a new ten-year lease on the building. The club has a 20-year lease on the property. The company holds the building on a long lease. The lease runs from April 19. They have a lease with five years to run. They moved out and the lease was surrendered. Under the new lease, the rent would go up. a new clause in the leaseIdioms
    a (new) lease of life (British English) (North American English a (new) lease on life)
     
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    the chance to live or last longer, or with a better quality of life Since her hip operation she's had a new lease of life.
    See the Oxford Advanced American Dictionary entry: lease