Maryland Commercial Lease Agreement Form – PDF Template
The Maryland commercial lease agreement is used for commercial property owners (including retail, office, and industrial related space) located in Maryland to collect monthly payments by renting their property to a tenant. There are two (2) major types of contracts;
- Gross Lease – When the tenant pays a set monthly payment and the landlord covers the cost of all utility costs associated with the property. This type of arrangement is more ideal for the tenant.
- Triple Net Lease – When the tenant pays the landlord a fixed monthly payment as well as all expenses associated with the property including the utilities, taxes, insurance, and common area maintenance.
The most common length of this type of agreement is three (3) years but may be any time as negotiated by the parties. It is advised that if the landlord is going to be doing any kind of fit up on the property that a personal guaranty of the tenant be required. This will make sure that if the business does not work out that the person’s assets are available if rent goes unpaid or liabilities remain on the person’s account.
Once the agreement is signed by both parties the document is legally binding. On longer term leases it is recommended to have a notary public witness to protect both parties.