This office lease clause states that the amount of the security deposit shall be increased to reflect the increase in Base Rent. The Owner shall at all times have and maintain two full months' Base Rent as security.
Rhode Island Clause Providing for the Periodic Increase in the Tenant Security to Reflect Increases in Base Rent
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How to fill out Clause Providing For The Periodic Increase In The Tenant Security To Reflect Increases In Base Rent?
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FAQ
How a Gross Lease Works. A gross lease is a type of lease that allows the tenant to use the property exclusively by paying a flat fee. It is commonly used for rentals in commercial property, such as office buildings and retail spaces that have numerous lessees.
What's the Difference Between a Gross Lease vs Net Lease? The main difference between a gross lease and a net lease is that in a gross lease the landlord is responsible for paying the operating expenses, while in a net lease the responsibility of the operating expenses falls on the tenant.
R.I. Gen. Laws § 34-18-19 § 34-18-19. ... (a) A landlord may not demand or receive a security deposit, however denominated, in an amount or value in excess of one month's periodic rent.
There is no rent control in Rhode Island, so a landlord is free to set the rent at whatever s/he decides. You and the landlord can agree on the date that rent will be paid. If your rent is more than 15 days late, you can be evicted for non-payment and the landlord can use a quick court proceeding.
A percentage lease is a rental that is based on a percentage of the monthly or annual gross sales made on the premises. Percentage leases are common with large retail stores, especially in shopping centers.
A graduated lease is an agreement between a landlord and tenant, or a lessor and a lessee, that sets out a periodic adjustment of monthly payments. A tenant may be required to pay a higher rent due to market conditions or an increase in the value of the leased property.
Index Lease - A type of graduated lease in which the periodic rent increase are tied to increases in the consumer price index, or some other economic indicator.
Rhode Island Senate Bill 914 Limits rent increases to no more than four percent (4%) annually and provides tenants with a civil action to recover damages for any violations.
