A commercial lease letter of intent is an important document, usually written in the format of an official letter that outlines the basic prospects of a commercial lease from the point of view of one party and is subject to another party for approval of the underlying terms and conditions. The layout of this type of a letter should be such that it includes not only significant lease clauses but also the name and identification details of the lessee and the lessor, financial details, exact dates, etc.
Sample Commercial Lease Letter of Intent:
16, Palm Avenue
New York City
(00 1 – 718 – 93821728)
Sub: Letter of Intent for Commercial Lease
I, Mr. Fredrick Richardson, owner of Henry Brothers and Co., herein declare to have approved of leasing 12 (twelve) copier machines to Garrison Companies Pvt. Ltd. for a term of 7 months. The terms and conditions set by me as a lessor have been stated below:
• Type of lease: Commercial Lease of Copier
• Name of lessor: Fredrick Richardson [Owner and Director of Henry Brothers and Co.]
• Name of lessee: Mark Jacobson [Executive Head, Garrison Companies Pvt. Ltd.]
• Lease commodity details: Model No.: 89COP1223; Sl. No.: 89C15 – 89C26
• Validity period: 17th August, 2011 – 18th March, 2012
• Costs included: An initial amount of $45000 has to be paid in advance and a monthly rent of $6700 will have to be paid. All repair and maintenance costs during the term of validity of lease will have to be paid by the lessee.
• Breach of contract: The copiers have been leased strictly for commercial purposes and any other use will lead to legal repercussions.
Fredrick Richardson [lessor]