Office Space Gross Lease Agreement (OLA)

A Office Space Gross Lease Agreement (OLA) is an office lease agreement that is a gross lease agreement (where the office landlord is responsible for most or all of the property expenses).

• Context:
  • It can (typically) involve a payment structure where the tenant pays a single, inclusive rent amount, covering all property-related costs.
  • It can (often) be used in situations where tenants prefer a predictable cost structure without the variability of separate charges for maintenance, taxes, or insurance.
  • It can be offer simplicity in lease agreements.
  • It can associated with a Gross OLA Playbook, with gross OLA review rules.
  • It can be associated with a Gross OLA Template.
  • ...
• Example(s):
  • A lease in a professional building where the landlord covers all property taxes, maintenance, and insurance, and the tenant pays a fixed monthly rent.
  • An agreement in a small business center where a single rent payment covers all building operating expenses.
  • ...
• Counter-Example(s):
  • A Triple Net Lease Agreement (NNN), where the tenant is responsible for all property expenses, including taxes, insurance, and maintenance.
  • A Gross Modified Office Lease Agreement, which includes a shared responsibility for certain operating expenses.
  • A Retail Space Gross Lease Agreement.
  • ...
• See: Commercial Real-Estate, Lease Types, Landlord Responsibilities, Tenant Rent Structure, Property Expense Allocation.

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References

2024

• https://www.signnow.com/fill-and-sign-pdf-form/245471-air-standard-multi-tenant-office-lease-gross
  • QUOTE: Gross lease is where the landlord pays for operating expenses, while a net lease means the tenant takes on the property expenses. A modified gross lease means that the operative expenses are borne by the tenant and the landlord.
  • QUOTE: The Modified Gross Lease is a way for a Tenant and Landlord to find some middle ground on property expenses. The Gross Lease puts all of the property expense risks on the building owner. The Triple Net Lease (NNN) puts all of the property expense risks on the Tenant.

2023

• Web Chatbot
  • QUOTE: A Gross Office Lease Agreement typically involves a lease structure where the landlord covers all property operating expenses, making it an attractive option for tenants seeking predictable costs.

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