Letters of intent are written before an official agreement is made. In cases of property, letters of intent may be written from one party leasing, renting or buying/selling property to another one.
Businesses usually inspect space which has been put up for rent or sale; once interest is developed, a letter of intent may be written to the owner so that the property is ‘held’ until an agreement can be made.
A letter of intent is not a legal document, and many people do not write one merely because they do not know of its existence. However, sending a letter of intent is a right way of communicating your interest in certain property and to make sure that no one else gets their hands on it!
Once a seller knows you are interested through formal communication, he is liable to pay attention to you and eventually sell itto you.
If you are writing a letter of intent to rent space for business purposes, you will have to provide information on what type of business you intend to run once the place is rented to you. This information is vital for buyers because they need to know how their property will be treated once it is rented out.
Letter of Intent to Rent a Space for Business
Michael Keaton
Director
Batter & Fries
100 Heat Road
Alexandria, VA 82929
(000) 222-5454
June 21, 2018
Mr. Fred Kruger
71 John Carlyle Street, Apt 21
Alexandria, VA 23456
Dear Mr. Kruger:
Batter & Fries is a small chain of fast food restaurants with 11 branches in 5 states and three franchises. I would like to express my interest in renting 679 Hamilton Place, Alexandria, VA of which you are the owner. As part of our expansion plan, we would like to open one more branch in Alexandria, and your property seems like the perfect place for us to do this.
Our company was inaugurated in 1995 and has seen considerable growth since then, even in the face of fierce competition. In Hamilton Place, we intend to open up a smaller branch in comparison to the others, and we are targeting customers for lunch and dinner. As Hamilton Place is a hub of office, we believe that this will serve our purpose quite well.
I met your representative at the premises yesterday and was informed that you were out of the city at the moment. Please call me at (000) 222-5454 at your earliest convenience so that we can set up a time to meet and discuss this further. I anticipate that we will be able to work out mutually agreeable terms and execute this deal soon.
Thank you.
Best regards,
(Signature)
Michael Keaton