gross lease

Definition of "gross lease"
  1. A lease agreement in commercial real estate where the tenant pays a fixed rent, with the landlord bearing all operating costs like maintenance, taxes, and insurance
How to use "gross lease" in a sentence
  1. They decided to sign a gross lease for the office space which had the landlord pay all the upkeep charges.
  2. Under the gross lease, the cost for building repairs will be shouldered by the landlord.
  3. The rent for the store is fixed under the gross lease, regardless of changing operation costs.

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