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Offer to Lease

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Office Space
Building
Retail Store Space
Restaurant Space
Industrial Space
Warehouse Space
Commercial Space




Your Offer to Lease

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Offer to Lease Page of
Page of

Offer to Lease Commercial Property

THIS OFFER TO LEASE (this "Offer") dated this ________ day of ________________, ________

FROM:

______________________________
of
______________________________________
(the "Tenant")

TO:

______________________________
of
______________________________________
(the "Landlord")

  1. Description of Space to be Leased
  2. The office space (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 May 29, 2024, and end at 12:00 noon on May 29, 2024.
  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 May 29, 2024, after which time, if it was not accepted by the Landlord, this Offer will be null and void.

DATED this ________ day of ________________, ________.

_______________________________
WITNESS:  ______________________

__________________________(Tenant)

Per:____________________________ (Seal)

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

_______________________________
WITNESS:  ______________________

__________________________(Landlord)

Per:____________________________ (Seal)

Last updated February 23, 2024

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What is an Offer to Lease?

An Offer to Lease is a document a prospective tenant uses to offer to rent a commercial property from a landlord or property manager. In other words, it’s an official offer to enter a Commercial Lease Agreement

It outlines some basic lease terms negotiated by the landlord and tenant, such as the lease length, rent amount, and security deposit. 

Prospective tenants may use an Offer to Lease when attempting to rent business properties, such as:

  • Offices
  • Buildings
  • Retail spaces
  • Restaurant spaces
  • Industrial spaces
  • Warehouses

An Offer to Lease is also known as a lease offer letter or a lease proposal.

How does an Offer to Lease work?

Here’s a breakdown of the process you may experience when securing a commercial rental property, including how an Offer to Lease works with other important rental documents

  1. A prospective tenant applies to rent a commercial rental property.
  2. The landlord chooses the applicant as a viable tenant option.
  3. The landlord and tenant may negotiate the lease terms (e.g., debate a fair rent price).
  4. The tenant creates and signs an Offer to Lease, outlining the agreed-upon lease terms, and gives it to the landlord.
  5. If the landlord accepts and signs, the offer constitutes a binding agreement between the parties.

The landlord and tenant use a Commercial Lease Agreement to outline the exact tenancy details.

Is an Offer to Lease legally binding?

Yes, when signed by both parties, an Offer to Lease is usually a legally binding contract.

Unless you modify the exact terms of your Offer to Lease, our template creates an irrevocable offer. However, it does prompt you to provide a date on which the offer expires. Therefore, the offer is irrevocable until this expiry date.

It only becomes null and void if the landlord does not accept the offer and the expiry date passes.

If the landlord accepts the offer before the expiry date, then the offer constitutes a binding agreement between the parties. In that sense, once the tenant has signed the Offer to Lease and given it to the landlord, they could be bound to their offer. Once the landlord accepts and signs the offer, it constitutes a binding agreement.

If you want to create a revocable Offer to Lease, use our editor tool to modify the exact wording of your document, ensuring you remove “irrevocable.”

Offer to Lease versus Lease Agreement

Although these are both legal documents used when securing a rental property, they’re distinct from one another. Let’s discuss two key differences.

  1. An Offer to Lease comes before a Commercial Lease Agreement. It’s a preliminary agreement. So, you don't need the Offer to Lease if you’ve already created a Commercial Lease Agreement.
  2. A Commercial Lease Agreement includes more detail than an Offer to Lease, including terms regarding parking, late payment penalties, and more. Generally, an Offer to Lease only contains basic lease information, such as the lease term, rent amount, and security deposit. 

Of course, an Offer to Lease and a Commercial Lease Agreement are similar in some ways. They’re both documents that govern commercial tenancies. Also, when signed by all parties, they’re both binding agreements.

What’s included in an Offer to Lease?

In order for an Offer to Lease to serve its purpose, it should include some key details. Our template asks you to include information about the:

  • Tenant, such as the individual or organization’s name and address
  • Landlord, such as the individual or organization’s name and address
  • Property, including the address and permitted use of the property
  • Lease term, including a start date and term length, which can also include a move-in date prior to the start date
  • Rent, including the rent amount, how it’s calculated, what costs are included, and how taxes are paid
  • Security deposit, including whether the tenant will prepay any rent or provide a deposit
  • Expiry date

In addition, you can also specify whether the lease is subject to approval by the tenant’s attorney.

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