A gross lease is a rental agreement where the landlord is responsible for paying all property expenses, including taxes, insurance, utilities, and repairs. Under this lease, the landlord receives rent as a gross figure and covers the operating expenses.
The lessee is an individual or entity that rents or leases an asset or property from another party (the lessor) for a stipulated period and at an agreed price.
In commercial real estate, Net Leasable Area (NLA) refers to the portion of a building or project that can be leased to tenants, excluding common areas and spaces dedicated to building operations.
A lease agreement where the duration is fixed and agreed upon by both parties, running for a specific term such as two months, three years, ten years, and so on.
A broker who represents tenants, ensuring they find the best property to lease and negotiating the most favorable transaction terms on their behalf.
