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Meaning of long lease
A long lease refers to a lease that lasts for a long period of time, typically more than 21 years.
Etymology of long lease
The term "long lease" originates from the combination of "long" referring to an extended period and "lease" which comes from the Old French "laas" or "les", derived from the Latin "laudare", meaning to praise or lease.
Historically, long leases were used to grant tenants secure and stable tenure, allowing them to invest in and improve the property over an extended period.
Synonyms
extended lease
rental agreement
long-term contract
leasehold
tenancy
rental contract
lease agreement
property lease
land lease
building lease
long-term rental
extended rental
lease option
rental lease
leasing contract
lease term
rental period
letting agreement
tenancy agreement
lease contract
property rental
long-term leasehold
lease tenure
rental tenure
lease duration
rental duration
Definitions
- A lease that lasts for a long period of time, typically more than 21 years, especially one that is granted for a fixed period of time, such as 99 or 125 years.
- * A type of lease where the tenant has a long-term contract to use the property, often with the option to purchase or renew the lease.
Usage Examples
- The company signed a long lease for the new office building, ensuring they would have a stable location for the next 20 years.
- * The tenant negotiated a long lease with the option to purchase the property after 10 years.
Antonyms
short lease
temporary lease
short-term contract
month-to-month lease
rental period
short-term rental
lease renewal
short-term agreement
temporary agreement
short-term leasehold
periodic tenancy
short-term tenancy
lease termination
short-term contract
brief lease
limited lease
short-duration lease
fixed-term lease
short-term letting
lease expiration