noun

• a payment or series of payments made by the lessee to an owner for use of some property, facility, equipment, or service
• an opening made forcibly as by pulling apart
  "there was a rip in his pants"
• the return derived from cultivated land in excess of that derived from the poorest land cultivated under similar conditions
• the act of rending or ripping or splitting something
  "he gave the envelope a vigorous rip"

verb

• let for money
  "We rented our apartment to friends while we were abroad"
• grant use or occupation of under a term of contract
  "I am leasing my country estate to some foreigners"
• engage for service under a term of contract
  "We took an apartment on a quiet street"
• hold under a lease or rental agreement; of goods and services