Super Confused on Gross Leasing Terms, Gross Vs Modified Gross
So I had a broker call me and I explained to him the price and I told him it's "x price modified gross". He called my boss who told him it was the same price but it was a gross lease. I asked her about it and she explained gross leases as- 

**Gross**\- What the tenant pays in rent is what the tenant pays with no extra expense except utilities.

**Modified Gross**\- Tenant pays rent but also will reimburse the landlord for either cam or taxes plus are responsible for their own utilities.

I've seen gross and modified gross use interchangeable and can mean the same thing while being completely different at the same time.

She also re explained net, net-net and triple net but I those more straight forward then gross leases.

How are the terms "gross" and "modified gross" to be used when explain the structure of the lease term?
[{"id": "hx8wkll", "text": "Those terms aren't uniformly used across the industry. The LOI should spell it out clearly and the lease should go into exacting detail.", "replies": [{"id": "hx92hny", "text": "Agree, the lease needs to outline exactly what each party is responsible for. Modified Gross is basically gross but the tenant pays for some stuff, whatever that stuff may be is in the lease.", "replies": [], "depth": 2}], "depth": 1}, {"id": "hx95hae", "text": "Those terms can mean anything. Even among gross, you'll find different utility structures, or utility reimbursements.\n\nA lot of people here use Industrial Gross, where the tenant pays rent, insurance, maintenance, and utilities.", "replies": [], "depth": 1}, {"id": "hx962fg", "text": "Gross and NNN are pretty well defined terms.  Modified gross lies anywhere in between.", "replies": [], "depth": 1}, {"id": "hx9dptb", "text": "While some people who have commented are getting technical, gross is $50 PSF rent, nothing else. Modified gross might be $47 PSF rent + utilities (or another expense), NNN the tenant pays everything, and in most cases the only leakage to the landlord is structural aspects of the property.\n\nSource: I see tens of thousands of leases a year.", "replies": [{"id": "hx9iwo0", "text": "Technically you\u2019re correct that gross leases definitionally include utilities I very rarely see utilities included in gross leases and usually those leases where utilities are included are quoted as full service even if no janitorial or common bathroom service is being provided.", "replies": [{"id": "hx9l01y", "text": "Full service and gross are often interchangeable.", "replies": [{"id": "hx9ndrb", "text": "As others have mentioned, gross is all over the board and often misused. I\u2019ve never encountered confusion with full service.", "replies": [{"id": "hx9o8op", "text": "I don\u2019t disagree but we didn\u2019t set the industry terminology.", "replies": [{"id": "hx9owih", "text": "Oh yeah for sure. Refer to my first comment. I agree with you technically. Maybe where we diverge is that colloquial use may be changing what gross/modified gross mean if for no other reason than no one uses them correctly. Haha", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "hx9qs5t", "text": "Don't forget to clarify if the there is an expense stop/base year and/or a cap on controllable increases.", "replies": [], "depth": 1}, {"id": "hxbhr13", "text": "Are you in Texas? \u201cGross\u201d there almost always excludes electricity because of the high cost to constantly blast AC\u2026", "replies": [], "depth": 1}, {"id": "hxc3byi", "text": "It'll depend on the market probably and asset class. I've never seen utilities included in a retail deal, gross or nnn. \n\nModified gross I take to mean as taxes are baked in the base year and tenant will be paying their share of increases above base. \n\nMake sure the LOI clearly spells out what's, what and find out what's standard in your market.", "replies": [], "depth": 1}]