Verizon Fios-G1500 User Manual page 174

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ROUTING
checks its list of available addresses and leases a local IP address to
the host for a specific period of time and simultaneously designates
this IP address as taken. At this point, the host is configured with an
IP address for the duration of the lease.
The host can renew an expiring lease or let it expire. If it renews a
lease, the host receives current information about network services,
as it did during the original lease, allowing it to update its network
configurations to reflect any changes that occurred since the first
connection to the network.
If the host wishes to terminate a lease before its expiration, it sends
a release message to the DHCP server. This makes the IP address
available for use by other hosts.
The DHCP server performs the following functions:
Displays a list of all DHCP host devices connected to your
Gateway
Defines the range of IP addresses that can be allocated in the
network
Defines the length of time the dynamic P addresses are allocated
Provides the above configurations for each network device and
can be configured and enabled or disabled separately for each
network device
Assigns a static lease to a network computer to receive the same
IP address each time it connects to the network, even if this IP
address is within the range of addresses that the DHCP server
may assign to other computer

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