Gross lease


 

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Gross Lease

A lease which obligates the lessor to pay all or part of the expenses of the leased property, such as taxes, insurance, maintenance. utilities, etc.

Gross lease

A type of property lease in which the lessor (owner of the property being leased) pays expenses associated with ownership such as damages, taxes, and insurance.



Gross lease

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Adjusted gross income

In the US, a person's income on which federal income tax is calculated. This is gross income less adjustments such as Individual Retirement Account, Simplified Employee Pension Plan, Keogh Plan and alimony payments but before itemised deductions such as state and local income taxes, interest expenses and medical expenses.


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Adjusted Gross Income

Gross income of a building it fully rented, less an allowance for estimated vacancies.


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