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1. A contract granting use or occupation of property during a specified period in exchange for a specified rent or other form of payment.
2. The term or duration of such a contract.
tr.v. leased, leas·ing, leas·es
1. To grant use or occupation of under the terms of a contract.
2. To get or hold by such a contract.
a new lease on life
An opportunity to improve one's circumstances or outlook.

[Middle English les, from Anglo-Norman, from lesser, to lease, variant of Old French laissier, to let go, from Latin laxāre, to loosen, from laxus, loose; see slēg- in Indo-European roots.]

leas′a·ble adj.
leas′er n.
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References in periodicals archive ?
United Engineering Construction will build the mall, the UAE's largest in terms of leasable space.
2-hectare lot with a capacity of 32,000 square meters of leasable space once fully developed, while CentralHub-Iloilo will have a capacity of 22,000 square meters of leasable space once fully developed.
The first two sites, CentralHub-Tarlac and CentralHub-Iloilo, once fully developed, can contribute around 54,000 square meters of leasable industrial space.
M2 EQUITYBITES-September 18, 2017-Granite Acquires Leasable US Property Portfolio for USD 122m
Reportedly, this second phase will offer a total leasable area of about 17,700 square metres on seven floors above ground and three underground parking levels.
The first phase, consisting of two office buildings will offer a total leasable area of around 23,000 square meters.
2] of gross leasable area, the mall will be anchored by a 140,000 ft[sup.
As of March 31, 2014, SIR owned 48 properties (278 buildings, leasable land parcels and easements) with a total of approximately 26.
05mn sqm net leasable area can be delivered only in mall segment, which is nearly double the existing net leasable area within malls.
Summary: Development to comprise of leasable retail space, hotels, convention centre and leisure facilities
Summary: Leasable area to almost double in size at a cost of AED 1.
4 million, or $82 per square foot of gross leasable area.