"On lease" is a phrase that refers to the agreement between a property owner and a lessee to grant the latter exclusive use of the former's property for a defined period. Synonyms for "on lease" include "leased out," "rented out," "let out," "chartered," and "contracted." A property that is "leased out" or "rented out" is typically available for an extended period, while a property that is "let out" is usually rented for a shorter-term, such as a few weeks or months. "Chartered" is a synonym that is especially applicable to the rental of a boat or plane, while "contracted" indicates that both the lessee and the owner have entered into a legal agreement regarding the use of the property.