A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. It is a new offer made in response to an offer received. It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or there is no contract.
A District of Columbia Letter of Conditional Acceptance — Counter offer to Property Owner from Prospective Tenant is a formal document used in the real estate market when a tenant wants to negotiate terms and conditions stated in the initial lease agreement proposed by the property owner. This letter allows the prospective tenant to present a counter offer to the property owner, outlining changes or additions they would like to make to the existing lease agreement. In the District of Columbia, there are various types of counter offers that prospective tenants may consider making, depending on their specific requirements and preferences: 1. Rent Modification Counter Offer: This type of counter offer suggests a modification to the rent amount proposed by the property owner. The prospective tenant may request a lower rent based on market comparable, economic conditions, or issues with the property that require repairs or maintenance. 2. Lease Term Adjustment Counter Offer: With this type of counter offer, the prospective tenant may propose a change in the duration of the lease term. They could suggest a longer or shorter lease period based on their personal circumstances, financial situation, or other factors. 3. Maintenance and Repairs Counter Offer: In this counter offer, the prospective tenant may outline any necessary repairs, maintenance work, or improvements they would like the property owner to address before finalizing the lease agreement. This could include fixing plumbing or electrical issues, repainting, or updating appliances. 4. Inclusion/Exclusion of Amenities Counter Offer: This type of counter offer allows the prospective tenant to request the addition or removal of specific amenities or services in the property. For example, they may ask for the inclusion of parking spaces, access to a gym, or the exclusion of certain appliances they don't need. 5. Lease Renewal Options Counter Offer: If the initial lease agreement does not mention any renewal options, the prospective tenant may propose the inclusion of renewal options in this counter offer. They could request the ability to extend the lease for one or more additional terms once the original lease period ends. District of Columbia's laws and regulations must be considered when drafting this Letter of Conditional Acceptance — Counter offer. The letter should be written clearly and concisely, outlining the proposed changes and reasons behind them. It is essential to negotiate in good faith and maintain open communication with the property owner to ensure a successful outcome for both parties.
