LETTER OF INTENT TO LEASE

What is your Purpose? When you begin to write your letter of intent to lease, you will first need to clearly define your purpose or your intent. Will your letter be to be for commercial purposes? You must define what the reason for the lease will be. State this clearly…

LETTER OF INTENT TO LEASEWhat is your Purpose?
When you begin to write your letter of intent to lease, you will first need to clearly define your purpose or your intent. Will your letter be to be for commercial purposes? You must define what the reason for the lease will be.

State this clearly in the beginning of your letter of intent to lease. You should be aware of the fact that your letter of intent is actually step one for the start of any commercial lease negotiations. Your letter of intent will allow both parties to go forward and two items should then occur. These are:

*the letter will state that there is a serious intent to go forward with the lease agreement

*the landlord will provide the draft of a lease agreement for the potential tenant to view.

Tips for your Letter of Intent to Lease
You will need to spend time preparing for your letter of intent to lease. There are some very good tips that will allow you to write a superior letter of intent to lease. These include the following tips:

1. the first item will prove helpful. You will want to set an appropriate tone. You should be very clear and professional. Make sure that the tone reflects your professional style and intent.

2. your letter of intent will not be binding. This must be clearly noted that it will not a binding letter. It is only an intent. The intent will allow for a landlord and a tenant to have room to negotiate. This will also leave room some negotiations at a later date. You will be setting guidelines for a future deal.

The Guidelines and Format
Your letter of intent to lease will most likely include deal-breaker items. This would incorporate items such as option possibilities and a move-in date. This list may become larger. It will depend on what items are most important to you as a prospective tenant. You will want to make sure that you incorporate the following items:

*you ought to include a promise to deal with the landlord only. The tenant (prospective) and landlord will only converse with one another.

*the name of the person who is going to be the tenant

*there will not be any deals made with anyone else during negotiations

*there must be a clear description of the intended purpose and use of the property. This would include the appropriate restrictions

*you will need to clearly define a description of the space that will be occupied

*outline all charges that you will be expected to pay

*the move-in date along with the rental term

*utilities and rent charges

*any intended renovations and how will they be paid for

*who will be in charge of repairs and maintenance

Conclude your Leasing Arrangement
Make sure that you and your prospective landlord conclude your lease arrangement. This can be done without the use of an attorney. The landlord might use your letter as an example or as a guide. The letter would be used during the final preparation of your lease.