LETS

Lets is the third-person singular present tense form of the English verb let, meaning to allow or permit. It also appears in the sense of leasing or renting out property: for example, “The landlord lets the apartment to a tenant.” In this usage, let is related to lease and rent, and lets can be used to describe actions of allowing access or leasing arrangements.

In real estate terminology, especially in British English, the phrase to let is standard for indicating that a property is available for rent. Advertisements may say the property is to let or that it is let by a certain date. The past tense form let appears in contexts such as “The property was let last month.” This usage reflects the rental aspect of the verb beyond mere permission.

LETS refers to Local Exchange Trading Systems, a terminology for community networks that enable members to trade goods and services using a locally created unit of account rather than national currency. Participants earn credits by providing goods or services and spend credits to obtain others’ offerings. LETS networks are typically based on mutual credit, voluntary participation, and a focus on local exchange to support community resilience. They emerged in the late 20th century and have been established in various countries, often with both online ledgers and traditional paper records. Critics point to limited liquidity, variable exchange rates across networks, and dependence on continued participation.

Finally, let us is a common contraction, written as Let’s, meaning “let us” and used to propose or suggest an action: “Let’s go” or “Let’s begin.” This is a distinct word from lets, though it shares the same root verb.