Massachusetts Commercial Lease Agreement Template
The Massachusetts commercial lease agreement is for landlords of retail, office, or industrial property to bind a business tenant to a rental contract (usually one (1) to five (5) years in duration). The landlord will typically prepare the space to the tenant’s specifications. Therefore, a long-term arrangement with a background check (through a rental application) is advised. For more information, read the online Commercial Leasing Basics guide provided by State government website.
There are three main ways to structure this type of agreement;
- Gross – Tenant makes one (1) monthly payment and the landlord covers all utilities and expenses in relation to the property.
- Modified-Gross – Tenant makes one (1) monthly payment and landlord shares the costs and expenses of the property.
- Triple Net (NNN) – The tenant covers for all utilities including paying a monthly payment to the landlord.