Lease type. The tenant. or lessee, is accountable only for a fixed fee or rent. The owner pays all other expenses, service fees, and taxes. Insurance, maintenance, and taxes are examples of expenses. Garbage collection, security, and utilities are examples of fees on a leased property. An operating lease is a gross lease whereas a capital lease is not. Also refer to net lease.

More On This Topic

Link to This Definition
Did you find this definition of GROSS LEASE helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary