Massachusetts Commercial Lease Agreement
The Massachusetts commercial lease agreement is for landlords of retail, office, or industrial property that binds a tenant and landlord together of a term of usually one (1) to five (5) years. The landlord will typically “fit-up” the space to the tenant’s specifications and therefore a long-term arrangement with a rental check (through the application) is advised.
There are three main ways to structure this type of agreement;
- Gross – Tenant makes one (1) monthly payment and the landlord covers all utilities and expenses in relation to the property.
- Modified-Gross – Tenant makes one (1) monthly payment and landlord shares the costs and expenses of the property.
- Triple Net (NNN) – The tenant covers for all utilities including paying a monthly payment to the landlord.