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The DHCP (Dynamic Host Configuration Protocol) server on your network handles the task of assigning a new IP address after a particular time. Some people set 8 hour leases, some prefer up to a week!The DHCP lease is how long a device reserves an IP address on your network. Default lease time is 8 days. 1. We have DHCP leases set to 8 days for IPv4, and 2 weeks for IPv6. By default, this period is equal to one-half the short lease duration. Determining lease duration. The default lease time for the DHCP server is 24 hours. In this video from ITFreeTraining, I will look at what is a DHCP lease. Chapter 2 describes the use of leases as a mechanism through which a DHCP server knows when a host will stop using an IP address.