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A gross lease is an agreement between a landlord and tenant where the tenant pays a fixed rent amount and the landlord takes responsibility for paying the expenses of the property. This means that the tenant does not have to worry about additional costs associated with the property, such as property taxes or maintenance fees.
Let's say you're renting an apartment on a gross lease. Your landlord charges you $1,000 per month, and this includes all costs associated with the apartment. So, if something breaks in the apartment or there's a property tax increase, you don't have to pay any extra money beyond the $1,000 per month.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
Oh, a gross lease, let me tell you what's the tease
It's when you rent a place, with costs the owner frees
You pay a fixed amount, that's the price you see
And the owner pays all expenses, yippee!
No need to worry, no need to fear
The owner takes care of all that's dear
Property tax or maintenance fee
The owner covers it, can't you see?
So, if you want to rent without any fuss
A gross lease is the one to trust!
All costs, the owner will bear
Leaving you with more money to spare!