A master lease agreement pertains to the leasing and subleasing of property, while a master service agreement pertains to the provision of services. I wanted to know what are everyone's thoughts on master lease agreements.A guide for buyers and investors on master lease agreements, including advice on buying commercial property and securing financing. A master lease is a controlling lease under which a lessee can sublease the property for a period not extending the set term of the master lease. A master lease agreement is a contractual arrangement between two parties, typically a property owner (lessor) and a tenant (lessee). A master service agreement (MSA) is a fundamental contract outlining the scope of the relationship between two parties. I'm interested in structuring Master lease deals in Ontario. County's LIP in the form of Model Maintenance Procedures and BMP Fact. When Leased Property is installed, the parties shall promptly complete and execute a Lease Schedule in the form attached. A master service agreement (MSA) is a fundamental contract outlining the scope of the relationship between two parties.