Rhode Island Commercial Sublease
Overview of this form
The Commercial Sublease form is a legal document that allows a tenant, known as the Sub-Lessor, to lease their rented commercial property to another party, called the Sub-Lessee. This agreement governs the terms under which the Sub-Lessee occupies the property and is subject to the original lease's conditions. It is essential for situations where a business owner needs to temporarily transfer their rights to occupy or use the space to another party.
What’s included in this form
- Identification of the parties involved: Sub-Lessor and Sub-Lessee
- Description of the leased property, including its location and any improvements
- Rental terms detailing payment amounts and due dates
- Restrictions on the use of the property and compliance with the original lease
- Indemnity and insurance requirements to protect both parties
- Conditions related to maintenance, repairs, and utilities
When to use this document
This Commercial Sublease form is typically used when a tenant in a commercial lease wants to sublet their space to another business. For example, if a retail store needs to temporarily close during renovations but wants to continue earning income from the lease, they can sublet to another retailer. Additionally, businesses facing financial difficulties might use this form to offload their lease obligations while still retaining some rental income.
Who this form is for
This form is suitable for:
- Business owners or tenants who have a commercial lease and wish to find a Sub-Lessee
- Individuals looking to rent a commercial space temporarily
- Real estate professionals assisting clients with leasing agreements
How to prepare this document
- Identify the parties: Complete the names and addresses of the Sub-Lessor and Sub-Lessee.
- Specify the property: Describe the commercial space being leased and any improvements.
- Enter lease terms: Fill in the rental amount and payment schedule.
- State use restrictions: Clearly outline how the property can be used according to original lease terms.
- Include insurance details: Provide necessary insurance coverage information and limits.
Notarization guidance
In most cases, this form does not require notarization. However, some jurisdictions or signing circumstances might. US Legal Forms offers online notarization powered by Notarize, accessible 24/7 for a quick, remote process.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Avoid these common issues
- Failing to obtain the original landlord's consent for the sublease
- Not clearly defining the permitted uses of the property
- Neglecting to include the payment terms and due dates
- Forgetting to specify maintenance responsibilities
Benefits of completing this form online
- Convenient download and editing capabilities to tailor the sublease to your needs
- Access to professionally drafted legal language to ensure compliance
- Time-saving option as you can complete the forms at your own pace
Legal use & context
- Establishes a legally binding agreement between the Sub-Lessor and Sub-Lessee
- Defines the rights and obligations of both parties under the sublease
- May be enforceable in the event of disputes, provided it complies with local laws
Key takeaways
- The Commercial Sublease form is essential for tenants looking to temporarily lease their space.
- Both parties must understand their roles and responsibilities outlined in the agreement.
- Ensure compliance with the original lease and local legal requirements for enforceability.
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FAQ
A commercial sublease is an agreement between a tenant currently leasing a property, a new tenant looking for space, and the property owner. When you sublease your space you are the sublessor (or sublandlord) and your new tenant is the sublessee (or subtenant).
Under California law, a lease does have to be in writing to be enforceable, but only when the lease is for a period of more than a year.There is, however, an additional legal doctrine called partial performance which does make oral contracts enforceable even if they are covered by the Statute of Frauds.
Writing Your Sublease. State the name of the parties and the date of the contract. Identify the full names of each party and what their role is in the contract. The original leaseholder of the property is the Tenant and the person subletting the property is the Subtenant.
The Introduction. The beginning of the lease agreement should contain the name of the landlord and tenant, as well as a statement of the agreement into which they are entering. Rent. Deposit. Taxes. Property Insurance. Utilities and Amenities. Remodeling and Improvements. Repairs and Maintenance.
As long as the contract spells out specific details and both parties have signed that they agree to the contract's terms, a handwritten contract is legally binding and enforceable in court.
Writing Your Sublease. State the name of the parties and the date of the contract. Identify the full names of each party and what their role is in the contract. The original leaseholder of the property is the Tenant and the person subletting the property is the Subtenant.
Name the parties. A simple rental agreement form needs to name the parties signing the lease and where they live. Describe the premises. Define the term of the lease. Set how much rent is owed. Assign a security deposit amount. Finalize the lease.
Check the over-lease. This refers to the lease that was signed by the tenant from whom you're sub-leasing. Note the condition of your room. Get in touch with the management company. Make all payments in person. Ask for a deposit receipt. Comments.
Subleasing occurs when the tenant transfers a part of their legal tenancy to a third-party as a new tenant.That means that if a new subtenant does not pay rent for three months, the original tenant that subleased the property is liable to the landlord for the overdue rent amount and any late fees.
