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Michael Feuerman answers: What is a full service lease?

What we typically refer to as a full service lease is a lease where the rate includes all of your costs. It includes your base rent, your operating expenses, your electric, your janitorial. It typically does not include sales tax in a state like Florida that has sales tax, and it does not include your phone, it does not include your internet. It includes all of your other costs. The issue when it comes to full services leases is that you may call a landlord and they might say, “Yes, the lease is full service”, but they may be referring to something different. Lots of landlords call leases different things: triple net gross, full service, modified gross, passover base year. It’s important to have an advisor who will ask the questions and understand the difference between these lease rates, will actually read the lease and the proposal for you carefully, and advise you on exactly what you are paying and what’s not included and what to expect. You don’t want surprises. As a former practicing trial lawyer, I read all of the documents very carefully for my clients and advise them on what the rate really is.

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