A Maryland commercial lease agreement is a binding contract for a tenant to lease retail, office, or industrial space. The contract determines the rights and responsibilities for both landlords and tenants, as well as information about deadlines, rent, penalties, and other items.
The Maryland law that governs commercial leases is Maryland Code Title 2A. These types of leases are typically more complicated than a residential lease, so consulting with an attorney is advisable
Writing Maryland Commercial Lease Agreements
A Maryland commercial lease agreement should generally contain the following:
- Tenant’s name and contact information
- Landlord’s name and contact information
- Description of the lease property
- Authorized use of the lease property
- Type of lease (gross, modified-gross, or triple-net)
- 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/non-payment of rent (including eviction process)
- Designation of the responsible parties for certain expenses and utilities
- Security deposit and refund policy
- Permissible leasehold improvements allowed by the landlord
- Additional terms as needed (including municipal codes and restrictions)
- Landlord and tenant contact information and form for legal service
- Place for the notarized signatures of all parties
- Miscellaneous terms specific to the lease
