The real estate market can feel like a maze with all its requirements and paperwork. One document that often trips up both tenants and landlords is the letter of intent for lease. This crucial document outlines the key terms before a formal lease agreement and helps clarify what both parties want.
Ready to write a letter of intent that puts you ahead of other applicants or helps you secure the perfect tenant? These examples will guide you through creating effective letters for various leasing situations, whether you’re looking for retail space, an apartment, or an office building.
Letters of Intent for Lease
Here are fifteen sample letters of intent for lease that you can adapt to your specific needs.
1. Basic Commercial Property Letter of Intent
To: Property Management Inc.
123 Business Avenue
New York, NY 10001
From: Sarah Johnson
Johnson Consulting LLC
456 Market Street
New York, NY 10002
Date: April 14, 2025
Subject: Letter of Intent – Commercial Lease at 123 Business Avenue
Dear Property Management Team,
Johnson Consulting LLC wishes to express interest in leasing the commercial space located at 123 Business Avenue, Suite 400, with an approximate area of 2,500 square feet.
We propose the following initial terms:
- Lease Term: 3 years with option to renew for 2 additional years
- Rent: $32 per square foot annually ($6,666.67 monthly)
- Security Deposit: Two months’ rent
- Lease Start Date: June 1, 2025
- Tenant Improvements: $10 per square foot allowance
- Utilities: Tenant responsible for all utilities
- Maintenance: Landlord responsible for structural repairs and common areas
We ask that you hold this space for 14 days while we complete our due diligence and negotiate formal lease terms.
This letter is not legally binding and serves only as the basis for preparing a formal lease agreement.
We look forward to your response.
Sincerely,
Sarah Johnson
Sarah Johnson
Chief Executive Officer
Johnson Consulting LLC
Phone: (212) 555-1234
Email: sarah@johnsonconsulting.com
2. Retail Space Letter of Intent
To: Urban Development Properties
789 Main Street
Chicago, IL 60601
From: Thomas Chen
Green Leaf Boutique
Currently at: 542 Oak Street
Chicago, IL 60614
Date: April 14, 2025
Subject: Letter of Intent to Lease Retail Space at River North Mall
Dear Urban Development Team,
This letter expresses my interest in leasing the retail space identified as Unit R-12 at River North Mall, with approximately 1,800 square feet of selling space.
Green Leaf Boutique proposes the following terms:
- Lease Term: 5-year initial term with one 5-year renewal option
- Base Rent: $45 per square foot for first year with 3% annual increases
- Percentage Rent: 6% of gross sales above $600,000 annually
- Common Area Maintenance: Pro-rata share based on leased area
- Security Deposit: Three months’ rent
- Occupancy Date: August 1, 2025
- Rent Commencement: 60 days after occupancy for build-out
- Signage: Rights to storefront and directory signage
- Use Clause: Sale of sustainable clothing and accessories
This letter is non-binding and intended solely as a framework for lease negotiations.
Thank you for your consideration.
Warmly,
Thomas Chen
Thomas Chen
Owner
Green Leaf Boutique
Phone: (312) 555-8765
Email: thomas@greenleafchicago.com
3. Office Space Letter of Intent
To: Skyline Properties
1000 Tower Plaza
San Francisco, CA 94105
From: Maria Rodriguez
Bright Software Solutions
555 Technology Drive
San Francisco, CA 94107
Date: April 14, 2025
Subject: Letter of Intent for Office Lease at Skyline Tower
Dear Skyline Properties Management,
Bright Software Solutions is interested in leasing the office space on the 14th floor of Skyline Tower, located at 1000 Tower Plaza, comprising approximately 5,000 square feet.
We suggest the following lease terms:
- Lease Duration: 4-year term with one 4-year renewal option
- Rental Rate: $58 per square foot per year, full service
- Rent Increases: 2.5% annually
- Tenant Improvements: $75 per square foot allowance
- Free Rent: First 3 months free
- Security Deposit: Last month’s rent
- Right of First Refusal: On adjacent spaces
- Moving Allowance: $15,000
- Parking: 10 reserved spaces at standard monthly rates
Please note this is not a binding commitment but rather an expression of interest to begin formal negotiations.
We appreciate your attention to this matter.
Best regards,
Maria Rodriguez
Maria Rodriguez
Chief Operations Officer
Bright Software Solutions
Phone: (415) 555-9876
Email: maria@brightsoftware.tech
4. Industrial Space Letter of Intent
To: Northeast Industrial Partners
200 Factory Road
Philadelphia, PA 19137
From: Robert Williams
Williams Manufacturing Co.
1442 Production Lane
Philadelphia, PA 19124
Date: April 14, 2025
Subject: Letter of Intent – Industrial Space Lease at Riverfront Industrial Park
Dear Northeast Industrial Partners,
Williams Manufacturing Co. hereby expresses interest in leasing Building C at Riverfront Industrial Park, comprising approximately 25,000 square feet of industrial space.
We propose these initial terms:
- Term: 7-year lease
- Base Rent: $9.50 per square foot, NNN
- NNN Charges: Estimated at $3.25 per square foot annually
- Security Deposit: Two months’ rent
- Rent Commencement: Upon completion of tenant improvements
- Tenant Improvements: Loading dock modifications and 3,000 sq ft office build-out
- Utilities: Tenant responsible for all utilities
- HVAC: Existing systems certified in working order at occupancy
- Zoning: Confirmation of zoning appropriate for light manufacturing
- Lease Commencement: September 1, 2025
This letter is non-binding and serves only as a starting point for lease negotiations.
Thank you for your consideration.
Respectfully,
Robert Williams
Robert Williams
President
Williams Manufacturing Co.
Phone: (267) 555-4321
Email: rwilliams@williamsmanufacturing.com
5. Restaurant Space Letter of Intent
To: Downtown Developments LLC
500 Central Avenue
Austin, TX 78701
From: James Lee
Fusion Kitchen Concepts
225 Culinary Lane
Austin, TX 78702
Date: April 14, 2025
Subject: Letter of Intent for Restaurant Space at The Marketplace
Dear Downtown Developments Team,
Fusion Kitchen Concepts wishes to express our interest in leasing the end-cap restaurant space at The Marketplace shopping center, comprising approximately 3,200 square feet plus 800 square feet of outdoor patio space.
We propose the following terms for discussion:
- Lease Term: 10 years with two 5-year renewal options
- Base Rent: $38 per square foot for indoor space, $19 per square foot for patio space
- Percentage Rent: 5% of gross sales above $1.2M annually
- CAM Charges: Pro-rata share with cap on annual increases of 3%
- Tenant Improvement Allowance: $125 per square foot for restaurant build-out
- Rent Commencement: 120 days after delivery of shell space
- Utilities: Separate metering for all utilities
- Grease Trap: New 1,500-gallon grease interceptor installation
- Exhaust System: Rights to install roof-mounted exhaust systems
- Signage: Building signage, monument signage, and window displays
This letter is not legally binding and serves as a basis for lease negotiations.
Looking forward to your response.
Sincerely,
James Lee
James Lee
Founder & Chef
Fusion Kitchen Concepts
Phone: (512) 555-6789
Email: james@fusionkitchenaustin.com
6. Medical Office Letter of Intent
To: Healthcare Properties Trust
800 Wellness Parkway
Boston, MA 02115
From: Dr. Emily Foster
Advanced Pediatric Care
325 Medical Center Drive
Boston, MA 02118
Date: April 14, 2025
Subject: Letter of Intent – Medical Office Lease at Longwood Medical Center
Dear Healthcare Properties Trust,
Advanced Pediatric Care wishes to express our intent to lease Suite 302 at Longwood Medical Center, consisting of approximately 4,200 square feet of medical office space.
We propose these key terms:
- Lease Term: 5 years with one 5-year renewal option
- Base Rent: $42 per square foot, modified gross
- Rent Escalations: 2.5% annually
- Tenant Improvement Allowance: $85 per square foot
- Operating Expenses: Tenant pays increases over base year 2025
- After-Hours HVAC: $35 per hour with 1-hour minimum
- Parking: 8 reserved physician spaces and 20 validated patient spaces
- Medical Waste: Tenant responsible for medical waste removal
- ADA Compliance: Landlord to ensure common areas comply with ADA
- Lease Commencement: Upon completion of tenant improvements
This letter does not constitute a legally binding agreement but serves to express our interest in beginning formal negotiations.
Thank you for your consideration.
With appreciation,
Dr. Emily Foster
Dr. Emily Foster
Medical Director
Advanced Pediatric Care
Phone: (617) 555-2345
Email: dr.foster@advancedpediatric.org
7. Warehouse Letter of Intent
To: National Logistics Properties
1500 Distribution Parkway
Atlanta, GA 30339
From: Kevin Patel
Global Supply Chain Solutions
780 Freight Boulevard
Atlanta, GA 30318
Date: April 14, 2025
Subject: Letter of Intent for Warehouse Lease at Atlanta Logistics Center
Dear National Logistics Properties,
Global Supply Chain Solutions expresses interest in leasing Warehouse Building 5 at Atlanta Logistics Center, comprising approximately 85,000 square feet of distribution space.
We propose the following initial terms:
- Lease Term: 10-year initial term
- Rental Rate: $7.25 per square foot, triple net
- NNN Expenses: Estimated at $2.80 per square foot annually
- Security Deposit: Three months’ rent
- Tenant Improvements: 5,000 sq ft office build-out and racking installation
- Early Access: 60 days prior to commencement for equipment installation
- Loading Docks: Minimum of 8 dock-high doors and 2 drive-in doors
- Clear Height: Confirmation of 32-foot minimum clear height
- Floor Load: Confirmation of 4,000 lbs per square foot capacity
- Expansion Right: Right of first offer on adjacent Building 6
This letter is non-binding and intended only as a starting point for negotiations.
We look forward to your response.
Best regards,
Kevin Patel
Kevin Patel
Director of Operations
Global Supply Chain Solutions
Phone: (404) 555-8901
Email: kpatel@globalsupplychain.com
8. Apartment Complex Letter of Intent
To: Residential Ventures LLC
300 Housing Road
Denver, CO 80202
From: Lisa Thompson
Mountain View Living
450 Apartment Avenue
Denver, CO 80205
Date: April 14, 2025
Subject: Letter of Intent to Lease Apartment Complex at Pine Ridge Development
Dear Residential Ventures Team,
Mountain View Living is interested in master leasing the entire 48-unit apartment complex known as Pine Ridge at 1200 Summit Way, Denver.
We propose these initial terms:
- Lease Term: 15-year master lease
- Base Rent: $1,250,000 annually ($26,042 per unit per year)
- Rent Escalation: 2% annual increases
- Maintenance: Mountain View Living to handle all routine maintenance
- Capital Improvements: Residential Ventures responsible for roof, foundation, and major systems
- Property Management: Mountain View Living to provide full property management services
- Security Deposit: One month’s total rent
- Insurance: Mountain View Living to maintain liability insurance of $5M
- Utilities: Mountain View Living to establish accounts for all utilities
- Subleasing Rights: Full rights to sublease individual units to residential tenants
This letter is not a binding agreement and serves only as a framework for future discussions.
Thank you for your consideration.
Regards,
Lisa Thompson
Lisa Thompson
President
Mountain View Living
Phone: (720) 555-3456
Email: lisa@mountainviewliving.com
9. Educational Space Letter of Intent
To: Community Development Authority
900 Municipal Drive
Portland, OR 97201
From: Michael Grant
Bright Futures Learning Center
625 Education Street
Portland, OR 97209
Date: April 14, 2025
Subject: Letter of Intent – Educational Space Lease at Community Commons
Dear Community Development Authority,
Bright Futures Learning Center expresses interest in leasing the educational space at Community Commons, comprising approximately 15,000 square feet.
We propose these lease terms:
- Lease Term: 8 years with two 5-year renewal options
- Rental Rate: $22 per square foot annually
- Utilities: Included in base rent
- Security Deposit: Two months’ rent
- Tenant Improvements: Classroom partitions, bathroom modifications for children, and playground installation
- Parking: 25 designated spaces for staff and 20 short-term pickup/dropoff spaces
- Hours of Operation: 6:30 AM to 6:30 PM Monday through Friday
- Use: Preschool and after-school educational programs for children ages 3-12
- Outside Space: Exclusive use of the 5,000 sq ft fenced yard area
- Signage: Building and monument signage rights
This letter is non-binding and serves only to express our interest in beginning lease negotiations.
We look forward to hearing from you.
Sincerely,
Michael Grant
Michael Grant
Executive Director
Bright Futures Learning Center
Phone: (503) 555-6789
Email: michael@brightfutureslearning.org
10. Studio Space Letter of Intent
To: Creative Properties Management
175 Arts District Boulevard
Los Angeles, CA 90012
From: Amanda Chen
Shutter Media Productions
428 Film Avenue
Los Angeles, CA 90028
Date: April 14, 2025
Subject: Letter of Intent for Studio Space at Creative Complex
Dear Creative Properties Team,
Shutter Media Productions wishes to express interest in leasing Studio B at Creative Complex, comprising approximately 12,000 square feet of production space.
We propose the following initial terms:
- Lease Term: 3 years with two 2-year renewal options
- Base Rent: $3.75 per square foot monthly ($45,000 per month)
- Security Deposit: Last month’s rent plus $25,000
- Load-In/Load-Out: 24/7 access via freight elevator and loading dock
- Soundproofing: Landlord to certify existing soundproofing meets NC-25 rating
- Power: Confirmation of 800-amp, 3-phase electrical service
- HVAC: Silent operation during filming periods
- Parking: 30 dedicated parking spaces included in rent
- Use: Film, television, and commercial production
- Alterations: Right to install temporary sets with restoration at lease end
This letter is not binding and serves only to begin formal lease discussions.
Thank you for your consideration.
Best regards,
Amanda Chen
Amanda Chen
Executive Producer
Shutter Media Productions
Phone: (323) 555-9012
Email: amanda@shuttermedia.com
11. Coworking Space Letter of Intent
To: Innovation Hub Properties
550 Startup Street
Seattle, WA 98104
From: Daniel Park
TechNest Ventures
775 Enterprise Avenue
Seattle, WA 98109
Date: April 14, 2025
Subject: Letter of Intent – Coworking Space at Innovation Tower
Dear Innovation Hub Team,
TechNest Ventures expresses interest in leasing the entire 7th floor of Innovation Tower, approximately 18,000 square feet, to operate a premium coworking space.
We propose these key terms:
- Lease Term: 10 years with two 5-year renewal options
- Base Rent: $38 per square foot annually, full service
- Rent Abatement: First 6 months free to allow for build-out
- TI Allowance: $100 per square foot for custom coworking build-out
- Operating Expenses: Base year 2025 with 3% annual cap on increases
- Security Deposit: Three months’ rent
- 24/7 Access: Secured access for members at all hours
- Signage: Building directory, floor, and exterior signage rights
- Right of First Refusal: On 6th and 8th floors
- Internet: Right to install dedicated fiber lines
This letter is non-binding and meant only as a starting point for lease negotiations.
Looking forward to your response.
Sincerely,
Daniel Park
Daniel Park
Managing Partner
TechNest Ventures
Phone: (206) 555-3456
Email: daniel@technestventures.com
12. Event Venue Letter of Intent
To: Historic Properties Inc.
250 Heritage Lane
New Orleans, LA 70116
From: Gabriela Martinez
Celebration Venues Group
375 Festivity Street
New Orleans, LA 70130
Date: April 14, 2025
Subject: Letter of Intent to Lease The Grand Ballroom at Heritage Square
Dear Historic Properties Team,
Celebration Venues Group wishes to express interest in leasing The Grand Ballroom at Heritage Square, comprising approximately 10,000 square feet of event space plus ancillary areas.
We propose these initial terms:
- Lease Term: 7 years with one 7-year renewal option
- Base Rent: $35 per square foot annually plus 5% of gross event revenue
- Security Deposit: $65,000
- Tenant Improvements: Restoration of historic features, modern kitchen installation
- Noise Restrictions: Confirmation of sound ordinance compliance
- Liquor License: Assistance with transfer of existing license
- Parking: Access to adjacent parking garage with validation program
- Catering: Exclusive right to provide in-house catering services
- Historic Tax Credits: Cooperation with application for renovation credits
- Occupancy: Confirmation of 500-person maximum occupancy
This letter is not legally binding and serves only as a framework for lease negotiations.
Thank you for your consideration.
Warm regards,
Gabriela Martinez
Gabriela Martinez
Chief Executive Officer
Celebration Venues Group
Phone: (504) 555-7890
Email: gabriela@celebrationvenuesgroup.com
13. Popup Retail Letter of Intent
To: Fashion District Properties
400 Style Avenue
Miami, FL 33137
From: Jason Wright
Trendsetter Pop-Ups
885 Temporary Lane
Miami, FL 33127
Date: April 14, 2025
Subject: Letter of Intent for Short-Term Retail Space at Fashion Center
Dear Fashion District Properties,
Trendsetter Pop-Ups expresses interest in leasing retail unit FC-103 at Fashion Center, comprising approximately 1,500 square feet, for a short-term popup retail operation.
We propose these terms:
- Lease Term: 6-month initial term with month-to-month thereafter
- Base Rent: $85 per square foot annually ($10,625 monthly)
- Security Deposit: Two months’ rent
- Early Termination: 30-day notice after initial term
- Permitted Use: Rotating designer fashion collections
- Tenant Improvements: As-is condition with right to install temporary fixtures
- CAM Charges: Fixed rate of $4.50 per square foot annually
- Hours of Operation: Mall standard hours plus special events
- Marketing: Inclusion in mall marketing materials and social media
- Utilities: Separately metered electricity paid by tenant
This letter is non-binding and serves only to begin formal discussions.
We look forward to your response.
Best regards,
Jason Wright
Jason Wright
Director
Trendsetter Pop-Ups
Phone: (305) 555-2345
Email: jason@trendsettermiami.com
14. Mixed-Use Development Letter of Intent
To: Urban Living Developers
700 Metropolitan Square
Minneapolis, MN 55401
From: Rachel Goldman
Community Spaces Inc.
950 Neighborhood Lane
Minneapolis, MN 55408
Date: April 14, 2025
Subject: Letter of Intent – Mixed-Use Space at Downtown Commons
Dear Urban Living Development Team,
Community Spaces Inc. wishes to express interest in leasing the ground floor commercial spaces (Units 101-105) at Downtown Commons, totaling approximately 7,500 square feet.
We propose these key terms:
- Lease Term: 10 years with two 5-year renewal options
- Base Rent: $28 per square foot NNN for first 5 years, $32 for years 6-10
- NNN Expenses: Estimated at $8.75 per square foot annually
- Security Deposit: Three months’ rent
- Tenant Improvement Allowance: $65 per square foot
- Use: Community bookstore, café, and event space
- Exclusive Use: No competing bookstore or café in the development
- Outdoor Space: Dedicated use of 1,200 sq ft plaza for seating
- Operating Hours: 7 AM to 10 PM, seven days a week
- Residential Discount: 10% discount program for building residents
This letter is non-binding and serves only as a starting point for formal lease negotiations.
Thank you for your consideration.
Sincerely,
Rachel Goldman
Rachel Goldman
Executive Director
Community Spaces Inc.
Phone: (612) 555-8901
Email: rachel@communityspaces.org
15. Agricultural Land Letter of Intent
To: Rural Properties Management
1200 Farmland Road
Madison, WI 53711
From: David Wilson
Sustainable Harvest Farms
875 Organic Way
Madison, WI 53713
Date: April 14, 2025
Subject: Letter of Intent to Lease Agricultural Land at Westside Valley
Dear Rural Properties Management,
Sustainable Harvest Farms expresses interest in leasing the 120-acre agricultural parcel known as Westside Valley Farm located at County Road M and Highway 14.
We propose these initial terms:
- Lease Term: 15 years with one 10-year renewal option
- Annual Rent: $350 per acre ($42,000 annually)
- Payment Schedule: Two payments annually (April 1 and October 1)
- Security Deposit: $21,000 (half of annual rent)
- Use: Certified organic vegetable and small grain production
- Water Rights: Access to existing well and pond for irrigation
- Structures: Right to install two 30’x100′ high tunnels and one 40’x60′ equipment shed
- Conservation: Implementation of approved soil conservation plan
- Residence: Use of existing farmhouse at additional $1,200 monthly
- First Right of Refusal: If property is offered for sale during lease term
This letter is not legally binding and serves only as a basis for lease negotiations.
We appreciate your consideration.
Respectfully,
David Wilson
David Wilson
Farm Manager
Sustainable Harvest Farms
Phone: (608) 555-6789
Email: david@sustainableharvestfarms.com
Wrap-up
These fifteen examples show the variety of approaches you can take when drafting a letter of intent for lease. The right structure depends on your specific situation and property type.
While these templates provide a starting point, always customize your letter to address your unique requirements and the specific property. A well-written letter of intent demonstrates your professionalism and sets the stage for successful lease negotiations.
Remember that a letter of intent typically does not create binding obligations but serves as a roadmap for future discussions. Once both parties agree on the basic terms outlined in the letter of intent, you can move forward with drafting and negotiating the formal lease agreement.