Common Contracts
1 similar Modified Gross Lease contracts
What is a modified gross lease typeModified Gross Lease • July 22nd, 2023
One of the most important aspects of managing commercial real estate is signing a lease agreement. Most commercial lease agreements require both landlords and tenants to pay operational and maintenance expenses on a recurring basis. This article provides a detailed overview of a modified gross lease and covers the most important aspects of managing commercial properties. What is a Modified Gross Lease? A modified gross lease is a commercial lease agreement where both tenant and landlord are responsible for paying ongoing expenses associated with the property. The expenses paid by landlord and tenant tends to vary on a case-by-case basis, and they have to be negotiated by a tenant and landlord before both parties sign a lease. A modified gross lease is common for commercial properties with more than one tenant. It typically stipulates that a tenant is responsible for paying the base rent as well as some other expenses that are associated with the property such as utilities, insurance an
