A Maine commercial lease agreement is a contract for a tenant to lease retail, industrial, or office space. The agreement defines the responsibilities and rights for both tenants and landlords, as well as details about rent, deadlines, penalties, and other items.
The Maine state law that governs commercial leases is Maine Code Title 14, Part 7, Chapter 709, Subchapter 2. These types of leases are longer and more complicated than a residential lease, so consulting with a lawyer is advisable.
Writing Maine Commercial Lease Agreements
A Maine commercial lease agreement should generally contain the following:
- Landlord’s name and contact information
- Property manager’s name and contact information (if any)
- Tenant’s name and contact information
- Description of the lease property
- Type of lease (gross, modified-gross, or triple-net)
- Authorized use of the lease property
- Term of the lease and the commencement date
- Option to renew the lease (if any)
- Rent and landlord’s profit participation in operations (if any)
- Penalty for late or non-payment of rent (including eviction process)
- Duties for paying expenses and utilities
- Security deposit and refund policy
- Permissible leasehold improvements
- Additional terms as needed
- Landlord and tenant contact information and form for legal service
- Place for signatures of all parties
