A Massachusetts commercial lease agreement establishes a contractual relationship between a landlord of non-residential property and a tenant looking to utilize said property for business-related matters. In exchange for renting the space from the landlord, the tenant shall assume any rental costs per the terms of the lease. Standard commercial leases typically last anywhere from three to five years, and they often include a renewal option upon the lease’s maturity date. Landlords may conduct background checks on tenants and their businesses before entering a formal agreement. Tenants with limited financial history or newly-formed businesses may be asked to complete a personal guaranty, a document that would hold a third-party guarantor liable for lease obligations.
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