Explanation of the Word "Lease"
Part of Speech: Noun and Verb
Usage Instructions:
When you want to refer to the contract itself, use "lease" as a noun.
When talking about the action of renting or granting the property, use "lease" as a verb.
Examples:
Advanced Usage:
A lease often includes specific terms like the duration of the rental period, the amount of payment (rent), maintenance responsibilities, and rules about how the property can be used.
In commercial settings, leases can also involve more complex terms, such as renewal options and clauses that allow for rent increases.
Word Variants:
Leased (verb, past tense): "I leased my car last year."
Leasing (verb, present participle): "Leasing a car can be cheaper than buying one."
Different Meanings:
Lease (noun): It can refer to the physical document that details the rental agreement.
Lease (verb): It can also imply the act of renting out items, not just property (like equipment).
Synonyms:
Idioms:
Phrasal Verbs:
Lease out: To rent something to someone else. Example: "The company decided to lease out its office space."
Lease back: A transaction where the owner sells an asset and then leases it back from the buyer. Example: "They sold their warehouse and then leased it back to continue operations."
Summary:
A "lease" is an important concept in renting and property management, allowing individuals and businesses to use assets for a designated time period under agreed terms.