modified gross lease

Definition

A real estate lease that requires the tenant to pay the base rent and requires the landlord to cover all costs relating to property operations.

Use this term in a sentence

It was a modified gross lease and I felt that was fair because it made everyone responsible for their part.

​ Was this Helpful? YES  NO 6 people found this helpful.

The modified gross lease was optimal for us as we did not want to take on additional or unnecessary responsibility.

​ Was this Helpful? YES  NO 4 people found this helpful.

Because the property owner receives tax benefits by covering the utilities at my complex, he had me sign up on a modified gross lease.

​ Was this Helpful? YES  NO 8 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
modified following modified internal rate of return (MIRR)