The Massachusetts commercial lease agreement actualizes the registration of the vital information surrounding the leasing of a property to be used for a company’s operations. The purpose of the paperwork is to preserve the terms and conditions in writing and formalize the arrangement. Commercial rental of real estate is generally a somewhat more sophisticated transaction than residential in terms of lease classification, requiring a separate form for registration of the event. The document presents confirming information such as the lessor and lessee names, property address, rental payments specifics, security deposit, and other provisions similar to those found within a residential rental agreement. The document further states facts related to:
- Lease Type (Gross, Triple Net (NNN), Modified Gross)
- Use Restrictions
- Option for Renewal
Additionally, the form allocates for alternate specifications to made and conditions to be filled in on an as-needed basis. Upon agreement with the declarations contained in the filing, signatures can be attached in the presence of a legal notary to affirm the included statements and complete the accord.