A Maryland commercial lease agreement is a legally binding contract between a landlord and a tenant for the use of a commercial space. Before signing the lease, the tenant should inspect the property to ensure it meets their business needs. The landlord will perform due diligence, including a rental application, to ensure the tenant is a good candidate.
Once both parties want to proceed with the tenancy, they can negotiate specific terms in the agreement, such as rent, payment date, term length, common area maintenance, and utilities. Commercial leases are often more complex than residential ones, so both parties should ensure they’re happy with and understand all the terms before signing.
Maryland Business Entity Search: Landlords can use this resource to verify a business has the right to conduct its operations in the state.
Rental Laws: Code of Maryland Title 2A.
Consumer Protection Laws: Code of MD § 2A-104.
Jurisdiction: According to Code of MD § 2A-106, a jurisdiction must be one in which the tenant resides when the lease agreement goes into effect, in which the property is located, or in which the tenant executes the lease. If parties mutually agree on a different jurisdiction that doesn’t meet one of these criteria, the choice isn’t enforceable.