A master lease agreement pertains to the leasing and subleasing of property, while a master service agreement pertains to the provision of services. A master lease agreement is a contractual arrangement between two parties, typically a property owner (lessor) and a tenant (lessee).A new investor can Master Lease with no money out of pocket and create income. The relationships and trust that a Master Lease can create are invaluable. Consulting Services Agreement is a contract, which sets out the terms and conditions for service between a consultant and a customer. A master loan and security agreement is a general contract that allows lenders to reuse the same document to secure multiple loans in the future.