lease

The word "lease" is used when something is rented. A lease is a contract. Typical leasing arrangements involve apartments, houses, cars, and equipment.

In these sentences, the word "lease" is a noun:

• Carla signed a one-year lease for her apartment.
• I have a three-year lease on a Toyota Prius.
• Vern is trying to get out of his lease. (He wants to end the agreement early.)
• If you break your lease, you’ll lose your deposit.

In these sentences, the word "lease" is a verb:

• Carla is leasing an apartment.
• Tony leased a new Chevy Volt.
• Our company is leasing some heavy equipment.
• Vern might sublease his apartment. (sublease = find someone else to live there and pay the rent.)

When a person survives a serious illness or when the overall situation for a person improves, the expression "lease on life" might be used:

• After losing 120 pounds and quitting smoking, Bill feels as though he has a new lease on life.

The lease for an apartment should be renewed two to three months before it expires.

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March 27, 2014