Definition from Nolo’s Plain-English Law Dictionary
A commercial real estate lease in which the tenant pays a fixed amount of rent per month or year, regardless of the landlord's operating costs, such as maintenance, taxes and insurance. A gross lease closely resembles the typical residential lease. The tenant may agree to a "gross lease with stops," meaning that the tenant will pitch in if the landlord's operating costs rise above a certain level. In real estate lingo, the point when the tenant starts to contribute is called the "stop level," because thats where the landlords share of the costs stops.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:17 pm