Letter of Intent to Lease Commercial Property
This Letter of Intent (LOI) outlines the basic terms and conditions under which the undersigned parties intend to enter into a lease agreement for commercial property, in accordance with the relevant state laws applicable to the property location, such as [Insert State Name].
Date: [Insert Date]
From:
[Insert Your Name]
[Insert Your Address]
[Insert Your City, State, Zip Code]
[Insert Your Email Address]
[Insert Your Phone Number]
To:
[Insert Landlord's Name]
[Insert Landlord's Company Name]
[Insert Landlord's Address]
[Insert Landlord's City, State, Zip Code]
Property Address: [Insert Property Address]
This Letter of Intent serves as an expression of interest to lease the above-mentioned commercial property under the following terms:
- Lease Term: [Insert Duration of Lease, e.g., "5 years"]
- Monthly Rent: [Insert Monthly Rent Amount]
- Security Deposit: [Insert Security Deposit Amount]
- Use of Premises: [Specify Intended Use, e.g., "Retail, Office, etc."]
- Commencement Date: [Insert Proposed Start Date of Lease]
Additional terms that may be necessary for the lease can include:
- Responsibility for utilities
- Maintenance responsibilities
- Renewal options
- Right to sublease
Both parties intend to negotiate in good faith an official lease agreement that reflects these terms. This Letter of Intent is non-binding and serves only as a starting point for negotiations. It does not create a binding obligation for either party to enter into the lease agreement.
Please indicate your acceptance of this Letter of Intent by signing below.
Agreed and Accepted:
[Insert Landlord's Name] _______________________ Date: _______________
[Insert Your Name] ____________________________ Date: _______________
