Lease Letter of Intent

					This Lease Letter of Intent is sent to the landlord of a rental property from a potential
tenant. The letter is used to inform the landlord of the tenant's interest in leasing the
property and sets forth the terms and conditions of the proposed lease agreement.
Included in the proposed terms are the rental rate, security deposit, permitted uses, and
the term of the lease. The letter of intent is non-binding, but serves as an outline of the
lease agreement. This document should be used by a potential tenant of a rental
property.
                            [Instruction: insert Tenant’s letterhead]

                             LEASE LETTER OF INTENT
Date: ______________ [Instruction: insert date]

___________________
___________________
___________________
[Instruction: insert Landlord’s name and address]

       Re:    Lease of the Premises commonly known as _____________________
       [Instruction: insert premises address]

Dear _______________: [Instruction: insert name]

      Per our conversation, this correspondence shall serve as a Non-binding Letter of Intent
(“LOI”) between ___________________________________ [Instruction: insert Landlord’s
name] (“Landlord”) and __________________________________ [Instruction: insert
Tenant’s name] (“Tenant”) for the purpose of leasing the property located at
___________________________________ [Instruction: insert premises address].

       The following terms and conditions will serve as an outline for the proposed lease
agreement and as the basis for preparation and negotiation of a final lease agreement between
Tenant and Landlord:

1.     PREMISES

       Address: _______________________________________________________________
______________________________________________________________________________
_____________________________________________________________________________.
Legal Description: _____________________________________________________________
______________________________________________________________________________
________________________________________________________________________ (the
“Premises). [Instruction: describe the premises in detail, including its address and legal
description]

2.     TERM

       The lease term shall commence from the _____ day of ______________, _______
[Instruction: insert date] (the “Commencement Date”) and expire on the _____ day of
______________, _______ [Instruction: insert date] (the “Expiration Date”) subject to early
termination (the “Term”).

3.     RENTAL RATE



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        For and during the term of the lease, the monthly base rent (“the “Monthly Base Rent”)
per rentable square foot for the Premises shall be as follows: ____________________________
dollars ($_______) [Instruction: insert dollar amount]. Every year thereafter, Landlord shall
increase the Monthly Base Rent by ________________ percent (_____ %) [Instruction: insert
percentage]. Tenant will be responsible for common area maintenance, taxes and insurance,
preliminarily estimated at ____________________________ dollars ($______) [Instruction:
insert dollar amount] per square foot.
[Comment: the following section is optional, include only if applicable]

4.     SECURITY DEPOSIT

        The amount of Tenant’s security deposit for the lease shall be __________________
dollars ($_____). [Instruction: insert dollar amount]
[Comment: the following section is optional, include only if applicable]

5.     RENEWAL OPTION

        Tenant shall have the right to extend the lease for additional period of ______________
(__) [Instruction: insert number of years] years.
[Comment: the following section is optional, include only if applicable]

6.     PARKING

      Tenant shall be entitled to ___ (___) unreserved parking pass(es) upon payment of
________________ dollars ($_____) [Instruction: insert dollar amount] per stall.

7.     PERMITTED USE

      The Premises shall be used exclusively for the following purposes:
_______________________________________ [Instruction: describe permitted use of
premises]. Tenant shall not use the Premises for any purpose other than as stated herein.

8.     ALTERATIONS

       Tenant may make any alterations or improvements to the Premises upon obtaining of the
prior written consent of Landlord.

9.     REPAIRS & MAINTENANCE

       Tenant shall, at its sole expense, maintain the Premises in a good condition and make all
minor repairs and replacements necessary to keep the Premises in a good and safe condition.
Landlord shall maintain and repair the building structure, foundation, exterior walls and roof.

10.    COMPLIANCE WITH LAWS




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        Tenant shall be responsible, at its sole cost and expense, for ensuring that all applicable
laws, including fire and building codes and municipal land use and zoning bylaws are complied
with in connection with Tenant’s use of the Premises.

11.       PROPOSAL EXPIRATION

       The proposal set forth in this LOI is valid until __________________________.
[Instruction: insert proposal expiration date]

12.       ASSIGNMENT/SUBLETTING

       Tenant may not assign or sublet all or any portion of the Premises or its interest under the
lease without the prior approval of Landlord, which shall not be unreasonably withheld.

13.       CONFIDENTIALITY

        Each party shall maintain confidentiality regarding the provisions of this LOI and all
other information each party obtains regarding the other party.

14.       PRIOR AGREEMENTS

          This LOI supersedes any and all previous negotiations with Tenant, whether written or
verbal.

15.       NON-BINDING

        The foregoing is not intended as and shall not constitute a binding agreement between the
parties but rather, is merely intended by the parties to specify some of the proposed terms and
conditions of the transaction contemplated herein. Accordingly, neither party will be bound by
any of the terms contained in this LOI unless and until such terms are embodied in a formal lease
that has been duly executed by both parties. Each party hereto fully understands that no party
shall have any legal or any other obligations to the other with respect to the proposed transaction.

        If the above terms and conditions are acceptable, please indicate same in the appropriate
space provided below and provide a formal lease agreement for our review within ten (10) days
of the acceptance date of this LOI.


Yours truly,


_________________________
[Instruction: insert name and title of individual who is sending this letter]




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AGREED AND ACCEPTED:

The undersigned hereby accepts and agrees to the foregoing this ____ day of ____________,
2____.

Per:
______________________________
Name: ______________________
Title: _______________________
I have authority to bind the ____________________.
[Instruction: insert name of Landlord]


Dated:
_______________________




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DOCUMENT INFO
Description: This Lease Letter of Intent is sent to the landlord of a rental property from a potential tenant. The letter is used to inform the landlord of the tenant's interest in leasing the property and sets forth the terms and conditions of the proposed lease agreement. Included in the proposed terms are the rental rate, security deposit, permitted uses, and the term of the lease. The letter of intent is non-binding, but serves as an outline of the lease agreement. This document should be used by a potential tenant of a rental property.
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