Full Service Lease Law & Legal Definition
A full service lease is a lease in which the lessor promises to maintain and insure the equipment leased. It is also referred to as a rental lease. It is most commonly used in leases of equipment or commercial real estate.
For example, a full service lease for a truck may offer financing, scheduled maintenance, roadside assistance, and other services. A full service lease for real estate typically makes the landlord responsible for paying all of the property’s operating expenses including maintenance, taxes and insurance. In this type of lease the landlord typically provides utilities including water, electricity, heat and air, janitorial services, and maintenance services.
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