Leasing
ˈliːsɪŋ
Definitions
2 meaningsTo grant or obtain the temporary possession or use of something in exchange for payment.
ˈliːsɪŋ
To grant use of property or assets for a specified period in exchange for payment.
The company is leasing new equipment to improve efficiency.
💡 Simply: Imagine you're letting someone live in your apartment for a set amount of time, and they pay you rent. That's leasing.
👶 For kids: It's like borrowing something from someone, but you have to pay them to use it for a little while. Like borrowing a toy from a friend!
More Examples
They decided to lease a car instead of buying one.
The city is leasing the land to a developer for a new project.
How It's Used
"The company is leasing new office space."
"They are leasing the apartment for a year."
The act of granting or obtaining a lease for a property or asset.
ˈliːsɪŋ
The act of granting or obtaining a lease.
The company provides various leasing options.
💡 Simply: When you're in the process of renting something like a house or a car, that process is called leasing.
👶 For kids: It's the act of agreeing to borrow something and pay for it. It's like making a deal to play with a toy for a certain time.
More Examples
The leasing agreement outlined the terms of the rental.
The demand for leasing services has increased.
How It's Used
"The leasing of the property was finalized last week."
"Leasing offers a flexible alternative to purchasing assets."
Idioms & expressions
Lease agreement
A legally binding contract outlining the terms of a lease, including duration, rent, and responsibilities.
"Before moving in, read the lease agreement carefully."
Operating lease
A type of lease in which the lessee does not take ownership of the asset at the end of the lease term.
"The company opted for an operating lease for its new fleet of vehicles."
Capital lease
A type of lease where the lessee assumes significant risks and rewards of ownership. The asset is essentially treated as being purchased.
"Under the capital lease agreement, the company would assume eventual ownership of the equipment."
From Old English *lēas (less), related to 'to let' and from the Proto-Germanic *leusaną. It developed into the concept of renting or granting use of property for a specific period in the late 14th century.
The term gained prominence with the growth of business and real estate, describing transactions where use of goods or property was exchanged for regular payments, starting in the 14th century.
Memory tip
Think of a "license" (a related concept) but focused on renting property.