The Rhode Island commercial lease agreement is an extensive rental contract that is specifically applied to properties that will be used to locate a business. When the owner of a company finds available space situated in a desirable area, they (or their representation) will contact the person in charge of the listing and will try to come to a mutual agreement on how the tenancy will be carried out. Some of the terms that will differ from your common residential lease include:
- The manner in which the expenses are handled (gross, modified gross, triple net).
- Type of services that will be performed on the property.
- Whether or not the tenant has the right to renew the lease at the end of its term.
(Note: This form should be signed under the review of a notary public for the objective of authenticating the contract.)