Rhode Island Commercial Lease: Types, Key Terms To Know, Costs

Reviewed for legal accuracy by Forest Hamilton JD

Quick Facts — Commercial Lease Lawyers

The Rhode Island commercial lease is signed between two parties to specify the terms and conditions of a particular property. The legally binding contract applies to the US State of the same name and is enforceable by law.

What Is a Rhode Island Commercial Lease?

The Rhode Island commercial lease is signed between a commercial property landlord and a tenant. It drafts all terms and conditions associated with leasing a certain property for business intents. The legal document includes additional clauses, such as lease termination dates and contract renewal particulars.

Things to Check before Signing a Rhode Island Commercial Lease

Business tenants and landlords must have a checklist before signing the Rhode Island commercial lease to ensure it is a legit contract. Here are a few things to consider before signing the commercial lease:

  • Check if the contract is properly drafted and includes all terms and conditions.
  • Review whether the agreement meets and abides by the current federal laws.
  • Verify and record all documents related to the commercial property.
  • Generate and collect valid pieces of evidence.
  • Take an experienced lawyer’s help to review the legal document before signing it.

Key terms

  • Legal Document Review : This process stands for cross-checking and verifying the commercial lease after the final draft is made to look for any loopholes.
  • Commercial Lease: A legal agreement signed between the property owner and tenant, a rental agreement on a commercial property. Base Rent: A minimum amount the tenant must pay to a commercial landlord.
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Conclusion

The Rhode Island commercial lease helps protect the rights of business tenants and property landlords. However, the lease rules and regulations are convoluted, and people require legal guidance to comprehend them. So, if you are searching for an experienced lawyer to review your commercial lease, visit ContractsCounsel now and seek assistance from the best legal counsel.

Frequently Asked Questions

How do I hire a lawyer to draft a commercial lease in Rhode Island?

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ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.


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Moss S. on ContractsCounsel
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Moss S.

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Free Consultation
Boca Raton, FL
38 Yrs Experience
Licensed in RI FL, MA
Suffolk Law School

Over 30 years of experience practicing commercial real estate and complex business litigation law.

Recent  ContractsCounsel Client  Review:
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"Moss S was responsive and attentive to my needs and completed the task ahead of time and within budget"

Elizabeth W. on ContractsCounsel
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Elizabeth W.

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Free Consultation
Bozeman, MT
9 Yrs Experience
Licensed in RI MA
Suffolk University Law School

Liz is an experienced insurance professional, having worked with carriers and brokers for over 10 years. She can review or draft a variety of commercial agreements and is here to help your business. Specialties include: Master Service Agreements, business process outsourcing, marketing and partnership agreements, broker agreements, business associate agreements, and NDAs.

Recent  ContractsCounsel Client  Review:
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"Liz was very responsive, eager to do a good job, and a pleasure to work with."

Nicholas M. on ContractsCounsel
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Nicholas M.

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16 Yrs Experience
Licensed in RI CT, MA, NH, VT
The Catholic University of America, Columbus School of Law

Nicholas Matlach is a cybersecurity expert (CISSP) and an attorney who is dedicated to helping small businesses succeed. He is a client-focused professional who has a deep understanding of the challenges that small businesses face in the digital age. He also provides legal counsel to small businesses on a variety of issues, including formation, intellectual property, contracts, and employment law.

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Paul M. on ContractsCounsel
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Paul M.

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21 Yrs Experience
Licensed in RI LA, MA
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Transactional attorney and corporate in house counsel for 15 years. Draft all types of contracts and employment agreements.

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"Paul is prompt, professional, and knowledgable. I am happy with the prenuptial agreement I got and would be glad to work with him again."

David W. on ContractsCounsel
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David W.

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6 Yrs Experience
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Quinnipiac University School of Law

David has experience assisting individuals, startups, mid-sized, and publicly traded companies with various business, corporate, and real estate matters including residential and commercial real estate sales, acquisitions, financing and leasing; contract drafting and negotiation; regulatory compliance; and business acquisition, sale, formation, and dissolution.

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Deborah S.

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18 Yrs Experience
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My name is Deborah Schwab, and I am an experienced attorney with a background in real estate, contract negotiation, and corporate governance. Currently, I am a transactional counsel with Priscott Legal, LLC, the partner law firm of Ontra.ai. In this remote role, I represent private equity and VC firms and negotiate a high volume of non-disclosure agreements, joinders, and other legal contracts. Prior to this, I served as legal counsel for PennTex Ventures, LLC, where I was responsible for negotiating, drafting, and reviewing contracts and agreements for sales and acquisition of real estate, lease negotiation, and resolving issues involving ancillary transactions. As the first in-house counsel for PTV, I was responsible for all legal and compliance matters and managed outside legal counsel. Before joining PennTex Ventures, I worked as real estate counsel for 84 Lumber & Nemacolin Woodlands, Inc., where I acquired eleven properties with a portfolio value in excess of $15 million. Prior to this, I spent several years as an attorney and supervisor at CNX/Consol Energy, where I worked as a title attorney, trained and managed a team of title attorneys/analysts, conducted due diligence for large land transactions, and identified business/legal risk exposure for multi-state projects. I received my Juris Doctor from Duquesne University and hold a Post Baccalaureate Paralegal Certificate from the same institution. Additionally, I earned a Bachelor of Arts from the University of Pittsburgh. I am also a court-appointed special advocate working as a volunteer with children who are in the foster care system. Thank you for taking the time to view my profile. I am always open to new opportunities and would be happy to connect with you.

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Commercial Real Estate

Commercial Lease

California

Asked on Apr 25, 2023

What is a commercial lease agreement and how does it work?

I am a business owner interested in renting a commercial space for my business. I am trying to understand the details of a commercial lease agreement and how it works so I can make an informed decision about whether or not to sign a lease. I am looking for information about the terms, conditions, and other relevant details that could affect my business.

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A commercial lease agreement sets out the parameters of the space to be leased, including a description of the premises, an allocation of responsibilities for janitorial services, electrical services, tenant improvements, insurance requirements, payment of rent and payment of common area expenses, parking for employees and visitors, telephone and telecommunication services and many other issues.

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A property description in a commercial lease has to sufficiently identify the extent and boundaries of the property being leased. For example, it can be described by a map reference or by metes and bounds, or include a description such as "that certain building on the south-westerly corner of California and Larkin Streets." The commercial lease will include defined terms such as "Building," "Property," and "Premises". The defined terms define/describe the "Property" on which the "Building" is located which has the "Premises"/"Space" that is being leased. A sample definition of is Property Description in a Commercial Lease: ""Property" means the real property on which the Building is located together with the Building and all appurtenant fixtures and personal property of Landlord used in the operation of the Building and/or the Property, and any other improvements now existing or hereafter constructed thereon[, including the parking lot, walkways, and landscaped ground as depicted on the site plan attached hereto as Exhibit [LETTER]]."

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