gross lease

Definition

A property lease in which the landlord agrees to pay all expenses which are normally associated with ownership, such as utilities, repairs, insurance, and (sometimes) taxes.

Use gross lease in a sentence

My grandfather and I worked out a deal for my late great-grandmothers house in that we have created a gross lease.

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The gross lease was optimal for the individual as they did not want to agree to any more liabilities than necessary.

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It was a gross lease and I was glad about that because it meant that the landlord would pay a the expenses that were normally not paid by him.

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double net lease net lease