Yes, leases is a Scrabble word!

Verb

1. Let for money

2. Hold under a lease or rental agreement; of goods and services

3. Grant use or occupation of under a term of contract

4. Engage for service under a term of contract

Noun

1. Property that is leased or rented out or let

2. A contract granting use or occupation of property during a specified time for a specified payment

3. The period of time during which a contract conveying property to a person is in effect