Good morning, its Word of the Week Wednesday again! Let’s look at modified gross lease. Modified gross lease is a lease agreement where the tenant of a property is responsible for the base rent and splits other expenses with the landlord. The landlord may cover property taxes, insurance, and property maintenance while the tenant may cover utilities, smaller maintenance, and usually low-level repairs in this agreement.
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Happy Labor Day!
Commercial Partners Realty wishes everyone a Happy Labor Day! Our offices will be closed Sept. 6th. We hope you’re enjoying a long weekend of relaxation. #laborday #laborday2021 #commercialpartnersrealty #commercialrealestate #longweekend #HappyLaborDay
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Here is our new Word of the Week! Take a look at Absorption; measured by a property’s square footage, absorption explains the rate of leased up or vacated properties.