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Lease Terms

Full-Service Lease (Gross Lease)

Lease where the landlord pays all operating expenses (taxes, insurance, maintenance, utilities). Common in office buildings.

Full Definition

A full-service or gross lease is structured so the tenant pays one all-inclusive rent, with the landlord covering all property expenses (taxes, insurance, maintenance, common area expenses, utilities). Common in multi-tenant office buildings and some retail. The landlord factors expense escalation into rent structure.

Related Terms

NNN Lease (Triple Net Lease)

A commercial lease where the tenant pays property taxes, insurance, and maintenance on top of base rent — making the landlord's income almost entirely passive.

Modified Gross Lease

Hybrid lease structure where landlord and tenant split operating expenses in various ways.

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