Maryland Commercial Lease Agreement
The Maryland commercial lease is a legal contract binding an individual or entity to making monthly payments in exchange for using office, industrial, or retail space. There are many factors that go into this type of agreement but first order of action by the landlord is to always verify every entity through the rental application as well as verifying their entity through the Secretary of State’s Business Database.
Three (3) Ways to Structure the Agreement
- 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.