A Full Service Lease (also known as a “Gross Lease”) is a type of commercial lease where the landlord is responsible for all the property-related expenses. These expenses include common expenses such as property taxes, insurance, maintenance, utilities, janitorial services, and repairs.
The tenant’s primary responsibility under this type of lease is to pay the rent, and they don’t have to worry about the other expenses associated with property ownership and maintenance. This makes the cost more predictable for the tenant since they’ll be paying the same amount every month regardless of what the property expenses are.
This is in contrast to a net lease, where the tenant is responsible for some or all of the additional expenses on top of the rent.
The specifics of what is included in a full service lease can vary from lease to lease, so it’s always important to carefully review the lease agreement to understand what expenses are covered.