Recent Answers to Gross Lease Law Questions

Dolan W.

Answered Dec 31, 2024

Hello! My name is Dolan and welcome to ContractsCounsel.com! So with a "gross lease," the landlord takes care of operating expenses like property taxes, insurance, and maintenance costs like you imagined here. This means the landlord is responsible for keeping the building in good shape, paying necessary taxes, and ensuring it's properly insured. They're also in charge of repairs and maintenance, handling issues like structural problems, plumbing, and electrical systems. If something major breaks, it's on them to fix it. Also, if there are shared spaces like lobbies or restrooms, the landlord manages cleaning and upkeep for these common areas. What does this mean for you? This means your main job is to pay the agreed-upon rent on time. This fixed amount makes budgeting easier since you know what you're paying each month. It's often helpful especially in commercial leases because you only need to worry about paying the rent. In most cases, tenants are responsible for their own utility bills, like electricity and water; it depends on the lease terms, so it's good to clarify this upfront. We can review the terms for you! Just let us know. Thanks!