Gross lease

Gross lease

A lease that states all of building's operating expenses, taxes, insurance, utilites, and maintenance fees are covered by landlord. It is agreed that the tenant only pays a predetermined fixed rental charge.

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Part of Speech: noun
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Industry/Domain: Real estate
Category: Commercial
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Related terms

gross lease

Law; General law

A lease in which the lessee pays a flat amount for rent, out of which the lessor pays all the expenses.

gross lease

Financial services; General Finance

A type of property lease in which the lessor (owner of the property being leased) pays expenses associated with ownership such as damages, taxes, and insurance.

gross lease

Accounting; Tax

As opposed to a net lease, a gross lease is one where the tenant is responsible for either none of the increase in operating expenses of the building, or only the amount above a ...

gross lease

Law; Legal services; General law

A lease in which the landlord pays all ownership and maintenance expenses, and the tenant pays rent. Compare with net lease.

lease

Accounting; Auditing

Written or implied contract by which an owner (the lessor) of a specific asset (such as a parcel of land, building, equipment, or machinery) grants a second party (the lessee) the ...

arena

Real estate; Commercial

An enclosed area for presentation of sports.

first floor

Real estate; Commercial

In the U.S., the floor at ground level in a building.

BOMA

Real estate; Commercial

An acrynym that stands for Building Owners and Managers Association, an internationally accepted association that promotes clear communication between landlords and tenants. BOMA ...

BOMA standard

Real estate; Commercial

Standard methods of measuring floor space to both maintain a common set of measurements throughout the industry as well as to respond to the growing number and intergration of ...

Usable area

Real estate; Commercial

Area that can be used or occupied, varying over the course of a building's lifetime due to the natural expansion and contraction of building space and corridors. Usable area is ...

Rentable area

Real estate; Commercial

Rentable area is calculated by measuring the entire floor space desired for leasing, minus any vertical penetrations.

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