The Maryland Commercial Lease Agreement is an agreement signed by an owner of commercial property and a tenant looking to run a business in/on the property. Due to the vast majority of types of commercial property and the vast majority of businesses out there, drafting a commercial lease takes a of knowhow. An owner of commercial property should almost always hire a commercial leasing agent and always use an attorney before officially signing a commercial lease agreement.
This lease is compatible with the following commercial lease types:
- Gross Lease – This type of lease is favorable to the tenant where as the landlord pays for most of the expenses associated with the property. The tenant then can easily forecast their expenses and will never have a surprise charge.
- Net Lease – The owner charges less for the base rent but charges the tenant for the expenses (taxes, insurance) and utilities that go along with the property.
- Modified Gross Lease – This agreement tends to be more “tenant friendly” but it compromises both the gross lease and the net lease and a mediator. Like a gross lease, the rent is requested in one lump sum and like a net lease where it can include any of the net lease types (Single, double, triple).