How Do You Write A Letter Of Intent For A Lease?
Rather than begin direct lease talks, many landlords and potential tenants will execute a letter setting forth wishes and expectations. These negotiations can be an enlightening process on both sides. Some basic definitions and understandings should be included for clarity in letters of intent. Consider it a way to avoid nasty surprises later. Create a paragraph for each section below, and include a signature line for all parties at the end. Parties: Describe the landlord and tenant. Include addresses and contact information. These are the parties involved in the lease. Premises: Define the location, including address, square footage and any ancillary considerations, like storage facilities and parking. Include a drawing or photo if you can. Use: Outline the purpose for which the premises will be used. Term: Mention the proposed term of the lease, along with commencement and ending dates. Possession: Will any improvements be undertaken before you take possession of the property? If pos
