Commercial Lease Letter of Intent (LOI) Template — Free
Before a 60-page lease lands on your desk, negotiate the deal in a one-page LOI. Mostly non-binding — a handshake in writing — but it locks in key business terms so lawyers can't re-open them later.
What It Captures
Premises, term length, base rent plus escalations, any free rent, TI allowance ($ per sq ft), CAM cap and exclusions, exclusive use, assignment standard, security deposit, personal guarantee scope.
Why Use One
Negotiating in plain English is faster than lease language. Once both sides agree on the deal, the lawyers' job is to faithfully reflect it, not renegotiate it. Without an LOI, every clause in the 60-page draft becomes a new negotiation point.
Binding vs Non-binding
Most provisions are non-binding ("subject to definitive lease"). Two things typically are binding: confidentiality and a 30-day exclusivity period. Clearly mark which is which.
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Decode My LeaseFrequently asked questions
Is the LOI legally binding?
Most provisions aren't — contingent on signing a final lease. But confidentiality and exclusivity usually are binding. Mark them clearly.