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Office Lease Agreement - Rhode Island

Office Lease Agreement - Rhode Island 2025

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The document is an Office Lease Agreement between a Lessor and a Lessee, outlining the terms of leasing office premises for a primary term of one year. It details rental payments, responsibilities for maintenance and utilities, conditions for lease extension, indemnification clauses, and procedures in case of default or property damage. The agreement emphasizes the obligations of both parties and includes provisions for notices and special conditions.

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Click ‘Get Form’ to open the Office Lease Agreement - Rhode Island in the editor.
Begin by filling in the date of execution at the top of the form, followed by the names of both Lessor and Lessee.
In Section 1, enter the complete address of the leased premises. Ensure accuracy for legal purposes.
For Section 2, specify the lease term start and end dates. Note any conditions for automatic renewal.
In Section 3, input the monthly rental amount and due date. Don’t forget to include any late fees applicable.
Section 4 requires you to state the intended use of the leased property. Be specific to avoid future issues.
Continue through each section, ensuring all fields are completed accurately, including maintenance responsibilities and insurance obligations outlined in Sections 7 and 13.
Finally, review all entries for correctness before signing at the bottom of the document.

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What type of lease is office space?

Modified gross leases are typically used for commercial spaces such as office buildings with multiple tenants. This type of lease typically falls between a gross lease, where the landlord pays for operating expenses, and a net lease, which passes on property expenses to the tenant.

What type of lease is a commercial lease?

A net lease refers to a category of commercial real estate leases. Net leases usually stipulate that tenants pay a proportionate share of the buildings operating expenses: common area maintenance (referred to as CAM) fees, property taxes, and insurance. Types of net leases include triple, double, and single.

What type of property is office space?

Commercial real estate (CRE) is property used for business-related purposes or to provide workspace rather than living space. Most often, commercial real estate is leased by tenants to conduct income-generating activities.

What is the most common lease for office space?

The most common type of lease for office space is the commercial office lease. This lease is essentially a contract between a landlord and a tenant for renting office space in a commercial property.

What type of lease typically is used for office leases?

Gross Lease Gross leases are most common for commercial properties such as offices and retail space. The tenant pays a single, flat amount that includes rent, taxes, utilities, and insurance. The landlord is responsible for paying taxes, utilities, and insurance from the rent fees.

How are office leases calculated?

The most basic equation for calculating a lease payment takes the number of square feet times the cost per square foot, then amortizes that over a 12-month span. For example, if you have 1,000 square feet and the cost per square foot is $12, the annual lease amount would be $12,000.

Is office space an operating lease?

Operating leases are often shorter term leases for things like office business space or equipment. Operating leases are beneficial because they have lower upfront costs and are more flexible than finance leases, but they often have higher long-term costs.

How to negotiate a commercial office lease?

Ask for a rent-free period. Consider the duration of the term. Avoid putting your name down as the lessee. Keep away from personal guarantees. Negotiate repair obligations. Ensure that theres a break clause. Decide security of tenure. Look into a sub-letting clause.

Office Lease Agreement - Rhode Island 2025

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