Letter of Intent for Lease Agreement
Letter of Intent for Lease Agreement
March 15, 2050
Jane Smith
Property Manager
ABC Realty Group
789 Real Estate Ave
Metropolis, MT 98765
Dear Ms. Smith,
I am writing to formally express my intent to lease the property located at 456 Modern Plaza, Suite 101, Metropolis, MT 98765. This Letter of Intent (LOI) outlines the proposed terms and conditions for leasing the property and serves as a basis for drafting a formal lease agreement.
Proposed Terms of the Lease
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Premises: A commercial space measuring approximately 3,500 square feet, suitable for office and retail operations.
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Lease Term: 10 years, commencing on July 1, 2050, and expiring on June 30, 2060, with an option to renew for an additional 5 years.
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Monthly Rent: $7,500, payable on the first day of each month.
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Security Deposit: $15,000 (equivalent to two months’ rent), due upon signing of the lease agreement.
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Purpose of Use: Corporate office and showroom for [Your Company Email].
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Utilities: All utility costs, including electricity, water, and internet, to be borne by the tenant.
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Maintenance and Repairs:
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Tenant responsible for routine maintenance of the leased space.
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Landlord responsible for structural repairs and maintenance of shared facilities.
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Insurance: Tenant to provide proof of liability insurance with a minimum coverage of $1,000,000 before the lease commencement date.
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Tenant Improvements: Any necessary interior modifications to be discussed and approved by the landlord, with costs to be negotiated.
This Letter of Intent is non-binding and is intended to establish a mutual understanding of the terms prior to executing a formal lease agreement.
I look forward to your feedback on the proposed terms. Should you agree, I am prepared to move forward with the preparation and signing of the lease agreement.
Thank you for your time and consideration. Please feel free to contact me directly at [Your Email] to discuss further details.
Sincerely,
[Your Name]
CEO, [Your Company Email]
