Full Service Lease Law and 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.
Legal Definition list
Related Legal Terms
- 1890 Lease
- 99 Year Lease
- Absent Uniformed Services Voter
- Absolute Triple Net Lease
- Acceptable Identification of Goods and Services Manual
- Acceptable Quality Level [Agricultural Marketing Service]
- Acceptance [Agricultural Marketing Service]
- Acceptance of Service Agreement
- Accounting Series Release
- Action for the Loss of Services
