Gross Lease
A Gross Lease is a type of rental agreement where the landlord covers all property expenses, including property taxes, insurance, and maintenance costs. Tenants pay a fixed rent amount, making budgeting easier since they do not have to worry about fluctuating additional costs.
In this arrangement, the landlord assumes the financial responsibility for the property's upkeep. This can be beneficial for tenants who prefer a straightforward lease without unexpected expenses. However, the rent may be higher to account for the landlord's costs, so it's essential for tenants to evaluate their options carefully.