What is it called when a landlord covers all the operating expenses of a property within a lease?

The correct answer is indeed the full service lease. In a full service lease, the landlord is responsible for covering all operating expenses associated with the property, such as maintenance, property taxes, utilities, and insurance. This type of lease structure simplifies budgeting for tenants because they pay a single rent amount that includes these expenses.

In contrast, a net lease typically requires tenants to pay some or all of the operating expenses in addition to their base rent, which can create additional financial obligations for them. A gross lease usually includes the cost of some but not all expenses. A modified gross lease sits somewhere in between, where the landlord covers certain expenses while the tenant may be responsible for others. This distinction highlights the comprehensive nature of a full service lease, making it particularly attractive for tenants looking for all-inclusive rental arrangements.