In this conversation, Tanh discusses two common lease types in commercial real estate: gross leases and modified gross leases. A gross lease is when the tenant pays a fixed amount of rent every month for a specified time frame, and the landlord is responsible for operating expenses. In a modified gross lease, the tenant pays a base rent and also contributes to a portion of the operating expenses. Gross leases are simpler and easier to understand, while modified gross leases offer more flexibility. The choice between the two depends on the needs and preferences of both the landlord and the tenant.
Takeaways
1. Gross leases are simpler and easier to understand, making them a good option for smaller businesses.
2. In a gross lease, the tenant pays a fixed amount of rent and the landlord is responsible for operating expenses.
3. Modified gross leases offer more flexibility, as the tenant pays a base rent and also contributes to a portion of the operating expenses.
4. The choice between a gross lease and a modified gross lease depends on the needs and preferences of both the landlord and the tenant.
Chapters
00:00 Introduction to Gross Leases
03:21 Considerations for Gross Leases
03:47 Advantages of Gross Leases
04:46 Introduction to Modified Gross Leases
06:32 Benefits of Modified Gross Leases
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