Fillable Form Letter of Intent to Lease Residential Property

What is a Letter of Intent to Lease Residential Property?

A Letter of Intent to Lease Residential Property is a formal letter used by a landlord to provide a preliminary agreement with a potential tenant before signing the official lease contract.

The Letter of Intent to Lease Residential Property may include the following information negotiated by a tenant and a landlord:

• Lease rate
• Term of lease
• Annual rate increases
• Tenant improvement allowance
• Assignability
• Guarantees
• Other terms and conditions

How to write a Letter of Intent to Lease Residential Property?

For your convenience, PDFRun has a comprehensive template of a Letter of Intent to Lease Residential Property that you can use. It should be filled out with the following information:

Sender’s Name

Enter your full name.

Address

Enter your complete address.

City, State, and ZIP

Enter the city, state, and ZIP code of your current address.

Effective Date

Enter the date when you are writing this letter.

Recipient’s Name

Enter the name of the potential tenant.

Address

Enter the complete address of the potential tenant.

City, State, and ZIP

Enter the city, state, and ZIP code of the potential tenant’s address.

RE: Intent to Lease Residential Property

Mark the appropriate box to determine the type of representation of this letter of intent.

• Binding
• Non-binding

The Lessee

Enter the full legal name of the potential tenant.

The Lessor

Enter the full legal name of the landlord.

Address of Premises

Enter the complete address of the property that will be rented out.

Lease Term

Mark the appropriate box to determine the statement that best suits the negotiation of the landlord and tenant in terms of the lease term.

• The term of the lease shall be for a fixed period commencing on the (Day) day of (Month), (Year), and expiring on the (Day) day of (Month), (Year).
• The term of the lease shall commence on the (Day) day of (Month), (Year), and continue as a month-to-month tenancy.

After choosing a statement, enter the required details.

Base Rent

Enter the amount of rent in dollars.

Enter the date of the payment for each month.

Expenses

Enter a list of the required monthly expenses and their corresponding amounts to be paid by the tenant.

Enter a list of the required monthly expenses and their corresponding amounts to be paid by the landlord.

Late Rent

Enter the length of the allowed extension for the payment of a monthly rental fee.

Enter the late fee in dollars.

Security Deposit

Enter the amount of security deposit in dollars.

Furnishing

Enter a list of items that the lessor will provide to furnish the property that will be rented out by the tenant.

Appliances

Enter a list of appliances that the lessor will provide in the property that will be rented out by the tenant.

Parking

Enter the number of parking space(s) that will be available to the tenant.

Enter the amount for the parking space fee to be paid by the tenant.

Mark the appropriate box to determine the type of payment for the parking space fee:

• Upon signing a lease
• On a monthly basis in addition to the Base Rent

Pets

Enter the number of pets allowed on the property.

Enter a list of the type of pets allowed on the property.

Lease Termination

Mark the appropriate box to determine the statement that best suits the negotiation of the landlord and the tenant in terms of the lease termination.

• The lessee shall have the right to terminate the lease by providing at least (No. of days) days’ notice to the lessor.
• The lessee shall not have the right to terminate the lease.

Additional Provisions

Enter a list of the additional provisions.

Governing Law

Enter the name of the state where the property is located.

Acceptance

Enter the date of the deadline for the tenant to sign and return a duplicate copy of this Letter of Intent.

Lessee’s Signature

Affix the signature of the tenant.

Date

Enter the date when the tenant signed this letter.

Lessor’s Signature

Affix the signature of the landlord.

Date

Enter the date when the landlord signed this letter.

If you want to craft or write your own Letter of Intent to Lease Residential Property, here are a few suggestions that might help you in doing so:

• Include as much information as possible about the residential property.

Provide clear and legal descriptions of the property to be leased. This will let the tenant know what to expect from the place.

• Explicitly include a clause whether this letter is binding or non-binding.

To determine how this letter will be treated, you have to directly state if it will be legally bounded or not. You should do this to avoid confusion since this document might be used later on as a piece of evidence when a dispute arises.

• Be specific with the lease terms and conditions.

Detailed information about the lease terms and conditions is important to be included in the letter of intent. This is to ensure that the landlord and the tenant are on the same page. You may also include other important clauses that the tenant needs to know upon renting the property.

• Provide the date of the deadline.

Include a reasonable period of time within which the tenant should respond to the letter of intent. This is to avoid wasting time and resources any further. If a tenant did not follow the deadline, you can immediately consider other prospective tenants to lease the property.

Why should I write a Letter of Intent to Lease Residential Property?

Writing a Letter of Intent to Lease Residential Property is important before finalizing the official lease contract. This letter serves a lot of purposes and benefits. Here are some of the reasons why you should write a Letter of Intent to Lease Residential Property:

• It is easier and cheaper to create than to purchase agreements.
• To see an overview of the initial terms of the lease and renegotiate if necessary.
• To avoid misunderstanding regarding the negotiations between a landlord and a tenant.
• To show that a tenant’s intention in renting the residential property is serious and sincere.
• To specify fundamental lease terms and conditions that must be met and agreed upon by both parties.
• To transform the verbal agreement between a landlord and tenant into a written and signed document.
• To secure the place from being viewed by other prospective tenants.