Maryland Commercial Lease Agreement Template
A Maryland commercial lease agreement is a legal contract that binds an individual or entity to make monthly payments to a landlord in exchange for the use of office, industrial, or retail space. There are many factors that go into this type of agreement but the first order of action by the landlord is to always verify interested parties through a rental application as well as investigate their business using the Secretary of State’s Business Database. There are three (3) different types of arrangements that can be made between a landlord and a tenant for commercial or industrial property which are as follows:
- Gross – Landlord pays for all expenses related to the property. Tenant is only required to pay a monthly payment.
- Modified Gross – Tenant and Landlord share the costs related to the property.
- Triple Net (NNN) – Tenant pays a monthly payment along with all the expenses related to the property.