Common Contracts
1 similar Commercial Lease Letter of Intent contracts
Sample letter of intent to lease commercial propertyCommercial Lease Letter of Intent • May 31st, 2023 • Vermont
An industrial, retail, or office tenant and a landlord will enter into a commercial lease to rent one of their properties, such as a building or piece of land. Compared to residential leases, which typically have a term of 11 months, commercial property leases are created with a longer tenure. The parties typically sign a letter of intent, which is a document that contains a summary of the leasing conditions and notifies each party about the specifics of the agreement, before entering into a final and definitive contract. A landlord will draft a letter of intent to lease commercial property to offer a tenant the fundamental terms and conditions of the prospective lease agreement. It forms the framework for a more extensive agreement between a landlord and tenant, but if the parties so agree, it may already have legal force. When a tenant receives this form, they must either accept or reject the conditions. The form of the terms' acceptance is a signature. Ideas for a Letter of Intent t
