What does Modified Gross mean?

Modified Gross is a type of lease agreement used in commercial real estate. It is a hybrid between a Gross lease and a Net lease. In this type of lease, the tenant pays a base rent, and also pays a share of the operating expenses of the building. This can include expenses such as property taxes, insurance, and maintenance costs. The split of expenses between the landlord and the tenant is typically outlined in the lease agreement.

Related Terms

Straight Purchase Consideration Accelerated Cost Recovery System Rural Housing Service Buyer's Market Amortization Knob-And-Tube Wiring HOA Braced Framing Foreclosure Radon disclosure Boundary Actual Age Implied Warranty of Habitability Breach of Contract Fair Debt Collection Practices Act. Ground Rent Appraisal Report