Free Offer to Lease

Free Offer to Lease

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Offer to Lease

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Offer to Lease Commercial Property

THIS OFFER TO LEASE (this "Offer") dated this 18th day of July, 2018

FROM:

______________________________
of
______________________________________
(the "Tenant")

TO:

______________________________
of
______________________________________
(the "Landlord")

  1. Description of Space to be Leased
  2. The office (the "Premises") is situated at __________.
  3. The Landlord agrees to rent to the Tenant the Premises for only the permitted use of: __________
  4. Term of Lease
  5. The term of the Lease will commence at 12:00 noon on July 18, 2018 and end at 12:00 noon on July 18, 2018.
  6. Rent
  7. In consideration of the Landlord leasing the Premises, the Tenant will pay a base rent of $__________________________ (the "Base Rent') every month of the term of the Lease.
  8. Formal Lease
  9. A formal lease ("the Lease") will be created by the Landlord and executed by the Landlord and the Tenant. The Lease will incorporate all of the provisions of this Offer.
  10. General Provisions
  11. All schedules to this Offer are incorporated and form an integral part of this Offer.
  12. Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Offer. Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa.
  13. If any portion of this Offer is determined to be unenforceable or invalid by the decision of any court of competent jurisdiction, which determination is not appealed or appealable, for any reason whatsoever, such unenforceability or invalidity will not invalidate the whole Offer, but the Offer will be construed as if it did not contain the particular portion held to be invalid and the rights and obligations of the parties will be construed and enforced accordingly.
  14. The parties agree that upon acceptance of this Offer by the Landlord, this Offer will constitute a binding agreement between the parties to this Offer.
  15. Time is of the essence in this Offer.

THIS OFFER WILL BE irrevocable until July 18, 2018, after which time, if it was not accepted by the Landlord, this Offer will be null and void.

DATED this 18th day of July, 2018.

_______________________________
WITNESS:  ______________________

__________________________(Tenant)

Per:____________________________ (Seal)

The undersigned hereby accepts the above Offer this _____ day of _____________, 20____.

_______________________________
WITNESS:  ______________________

__________________________(Landlord)

Per:____________________________ (Seal)

Offer to Lease

Alternate Names:

An Offer to Lease is also known as a/an:

  • Proposal to Lease
  • Offer to Rent Letter
  • Lease Proposal

What is an Offer to Lease?

An Offer to Lease, also known as a proposal to lease, is drafted when a prospective tenant is looking to lease commercial space from a landlord or property manager.

An Offer to Lease is often the first stage in a commercial tenancy process and can be used to set the foundation for a Commercial Lease Agreement by including some preliminary rental terms like the rent price and the starting date of the lease term.

What type of property can I use an Offer to Lease for?

Typically, an Offer to Lease is used as a preliminary step for leasing commercial property rather than residential property.

Commercial property includes:

  • Offices
  • Buildings
  • Retail stores
  • Restaurants
  • Warehouses
  • Industrial spaces
  • Other spaces that don't fit into specific categories, e.g. gyms, spas, health clinics, etc.

When should I use an Offer to Lease form?

An Offer to Lease is generally used to:

  • Make an offer to a landlord to lease commercial space
  • Outline the basic terms of the rental agreement before signing the formal Commercial Lease

What should be included in a lease proposal?

In addition to the type of property and some personal details about the tenant and landlord (names and contact information), the lease proposal should include:

  • Details of the property including location, property boundaries, and permitted use of the property
  • The start and end dates of the lease, which can also include a move-in date prior to the lease start date
  • Rent details, including how it's calculated, what costs are included, how taxes are paid, and how often rent is paid (monthly or annually)
  • Security deposit details
  • Lease details, including whether or not the lease will be attached to the offer or provided in the future

There should also be an expiry date on the offer. Without one, an offer is generally considered expired after a reasonable period of time has passed. However, what is considered "reasonable" can be subject to the interpretation of a court and can vary by state, so it's best to simply specify a precise expiry.

Unless otherwise specified, the party making the offer is free to revoke their offer at any time.

Do I need a formal Lease Agreement if I have an Offer to Lease?

A formal Commercial Lease Agreement is required for a legal tenancy to take place. Although an Offer to Lease can contain certain lease terms, there are other requirements and terms that need to be addressed in a formal Lease Agreement.

For instance, provisions about eviction, late payments, and maintenance and cleaning responsibilities are not typically discussed in a lease proposal.

It is not recommended for a tenant and landlord to enter a tenancy agreement without a full, detailed lease describing their obligations and responsibilities. If some terms are left out or are unclear, it could lead to disputes between the parties.

Is an Offer to Lease legally binding?

An Offer to Lease that describes essential elements of a future Lease Agreement can be deemed to be binding. This means that if certain terms (like rent total) are agreed upon and accepted by both the prospective tenant and the landlord, both parties are likely to be legally bound to the terms. Those terms will appear in the same way in the formal Lease Agreement.

If the parties want the offer to be non-binding, they will have to make that intent clearly known. It's recommended to avoid including essential elements of the lease in the document.

Related Documents:

  • Commercial Lease Agreement: an agreement made between a business tenant and landlord that details the terms of a commercial tenancy
  • Commercial Lease Application: a form that is used to collect information about potential business tenants who want to lease commercial property
  • Letter of Intent: a non-binding letter used to describe an understanding of a future agreement between two or more parties
  • Rent Receipt: a document that serves as proof of a rent payment made to a landlord
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