CUSTOMARY PROVISIONS IN A LETTER OF INTENT FOR A COMMERCIAL LEASE*

CUSTOMARY PROVISIONS IN A LETTER OF INTENT FOR A COMMERCIAL LEASE* | Eric P. Gonchar

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In a prior article, we examined the preliminary considerations for a Tenant in leasing retail or commercial space. Once the Tenant has a space picked out, it is time to understand the lease terms and negotiate the lease. The terms of the Lease will be summarized in a document called a “Letter of Intent.” This can be a complicated process, especially considering all the legal terminology and lease-speak that is often more confusing than it is helpful.  Keep in mind, a larger more well established Tenant may have more of an ability to negotiate better terms than a new start-up company without any experience.

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