A Maryland commercial lease is a legally binding agreement between an owner/landlord of a piece of property and a tenant who intends on renting said property for commercial use. A written lease agreement contains all the provisions necessary for the parties to understand and maintain a mutually beneficial rental arrangement. The cost of rent, the payment date, length of term, utilities, common area maintenance, and extension options are just a few clauses that will be negotiated before signing a commercial lease agreement.
The tenant will want to survey the property to ensure it will satisfy their business needs. Furthermore, they will most likely pay for a professional inspection of the premises to make sure everything is to code.
Lease Application – A lease application form is completed by a potential tenant to give the landlord an idea of their eligibility for tenancy. It includes information regarding the applicant’s personal and business information, and grants the landlord permission to perform background checks.