Free Offer to Lease

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

A formal ProductLink code="COMLSE" text="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.

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Offer to Lease

Leased Property

Address:

Permitted use of the property:

e.g. brokerage office, fast food restaurant, etc.

Describe the property in more detail?

Yes

Attach a diagram of the property

Include the area of the property

What is the area of the property?

Square feet

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Frequently Asked Questions

When should I include additional details about the property?Generally, it is not legally necessary to describe the property using more than the property address. However, providing additional details can reduce the potential for disputes by further clarifying the boundaries of the property.

Your Offer to Lease

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Offer to Lease Commercial Property

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

FROM:

______________________________
of
______________________________________
(the "Tenant")

TO:

______________________________
of
______________________________________
(the "Landlord")

Description of Space to be Leased
The office (the "Premises") is situated at __________.
The Landlord agrees to rent to the Tenant the Premises for only the permitted use of: __________
Term of Lease
The term of the Lease will commence at 12:00 noon on July 3, 2020, and end at 12:00 noon on July 3, 2020.
Rent
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.
Formal Lease
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.
General Provisions
All schedules to this Offer are incorporated and form an integral part of this Offer.
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.
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.
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.
Time is of the essence in this Offer.

THIS OFFER WILL BE irrevocable until July 3, 2020, 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)

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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.