Commercial Lease Letter Of Intent Example

• Category: Landlord Tenant - Commercial Leases - Restaurants
• State: Multi-State
• Control #: US-00879BG
• Format: Word; Rich Text

Description

This form is a commercial lease of a building and land for a family oriented restaurant.

A commercial lease letter of intent (LOI) is a vital document used during the negotiation phase of a commercial lease agreement. It serves as an expression of interest from the potential tenant to the landlord, outlining the key terms and conditions both parties intend to include in the final lease agreement. This letter of intent provides a framework for further negotiations before drafting a formal lease contract. Here is an example of a commercial lease letter of intent: [Your Name] [Your Company/Organization] [Your Address] [City, State, and Zip Code] [Email Address] [Phone Number] [Date] [Landlord's Name] [Landlord's Company/Organization] [Landlord's Address] [City, State, and Zip Code] Subject: Commercial Lease Letter of Intent Dear [Landlord's Name], I am writing to express my interest in leasing the commercial property located at [Property Address]. As the representative of [Your Company/Organization], I would like to initiate discussions to negotiate the key terms and conditions of the lease agreement. 1. Property Details: — Property Address: [Property Address— - Total Square Footage: [Total Square Footage] — Type of Property: [Office/Retail/Warehouse] — Desired Lease Term: [Number of Years] 2. Lease Terms and Conditions: — Rent Amount: [Proposed Monthly Rent— - Rent Payment Schedule: [Monthly/Quarterly/Annually] — Security Deposit: [Amount or Percentage] — Maintenance and Repairs Responsibility: [Tenant/Landlord] — Utilities Responsibility: [Tenant/Landlord] — Parking Availability: [Number of Parking Spaces] — Use of Property: [Specify Intended Uses] — Tenant Improvement Allowance: [Amount or List Specific Improvements] 3. Additional Terms: — Renewal Options: [Specify if any— - Assignment/Subletting Rights: [Specify if any] — Alterations and Modifications: [Specify approval process] — Tenant's Right to Terminate: [Specify if any] Please consider this letter as a formal expression of intent to lease the aforementioned property. We are excited about the potential this property offers for our business needs. We anticipate the opportunity to work collaboratively and negotiate a lease agreement that satisfies both parties. Furthermore, we kindly request you to review this letter of intent and schedule a meeting to further discuss the terms. Should there be any additional documentation or information required, please do not hesitate to let us know. Thank you for your attention to this matter. We look forward to commencing fruitful discussions with you. Sincerely, [Your Name and Title] [Your Company/Organization] Types of Commercial Lease Letter of Intent Examples: 1. Short-Term Commercial Lease LOI: This type of letter of intent is used when the tenant only requires space for a short duration, such as for a pop-up shop or seasonal business. 2. Long-Term Commercial Lease LOI: This LOI is intended for tenants who intend to occupy the commercial property for an extended period, typically several years. It usually includes more detailed terms and conditions. 3. Multiple Tenant Commercial Lease LOI: This LOI is used when multiple tenants are involved, such as in a shopping center or office building, and their lease terms and conditions need to be negotiated together. 4. Build-to-Suit Commercial Lease LOI: In this type of LOI, the landlord agrees to construct a customized commercial property to fulfill the tenant's specific requirements. The LOI includes details of the design and construction process. Remember, while these examples showcase the general structure and content of a commercial lease letter of intent, it is crucial to adapt it to your specific circumstances and seek legal advice to ensure you are adequately protected throughout the negotiation process.