How to Negotiate a Modified Gross Lease?
Most lease agreements are prepared by the landlord to benefit the landlord. However, in a modified lease agreement, tenants should negotiate contract terms since they are paying for some of the property’s operating costs. Tenants should carefully look over the contract and take the following actions: • Ask for a lease length that works best for their needs • Research other commercial rents for comparable rates • Keep an eye out for hidden fees and costs • Request favorable clauses, such as improvements to the property • Read the termination clause closely so they know their rights in the case of an eviction