What is an Offer to Lease?
An Offer to Lease includes most of vital information that will be in your official lease, but it gives you room for extras and helps define parameters before you sing the official document. Be sure to include anything you'll need the landlord to take care of before you start writing checks. After all, you don't want to be the one fixing that iffy wiring in the break room, so make sure you know about any potential issues before you get in too deep. In the offer, you'll stipulate the biggies like the length of the lease and rent. Don't sign and offer unless you're sure you want the space: an offer to lease is binding.
When to use an Offer to Lease:
- You want to make an offer to a landlord or property manager to lease commercial property.
- You want to outline the basic terms of the agreement before signing a formal Commercial Lease.
- You and want to make offers and counter-offers during your lease negotiations.
OFFER TO LEASE COMMERCIAL PROPERTY
This Offer to Lease (the "Offer") is made on (the "Offer Date") by (the "Tenant") of , , (), to (the "Landlord") of , , (), known collectively as the "Parties."
WHEREAS, the Landlord is the owner or property manager of certain commercial property available to lease.
WHEREAS, the Tenant hereby offers to lease from the Landlord commercial property at located at , , (the "Premises").
NOW THEREFORE, in consideration of the above recitals and mutual promises and benefits contained herein, the Parties agree to the following terms and conditions described below.
. DESCRIPTION OF PROPERTY. The Premises will consist of the following:
. TERM. month-to-month
. RENT. In consideration of the Landlord leasing the Premises,
. FORMAL LEASE. A formal lease shall be drawn up by the Landlord and executed by both Parties forthwith, subject to the Tenants approval. The lease shall incorporate all of the provisions of this Offer to Lease.
. USE OF PREMISES. The Premises shall be used for (the "Permitted Use").
. OCCUPANCY. The tenant shall be given vacant possession to the Premises on or before the Lease start date. The Landlord acknowledges that as of the Lease start date there will be no exiting leases, options to lease, rights or renewal or any other leasehold interest for the Premises.
. ALTERATIONS. The Tenant shall be permitted to make such alterations, expansions or renovations to the property as it so chooses; however, all plans for such work require the Landlord's consent prior to starting work, such consent not to be unreasonably withheld. Any and all work shall in all instances be in accordance with all municipal codes, by-laws and other governmental authorities.
. ASSIGNMENT AND SUBLETTING. The Tenant shall have the right to assign or sublet its interest in all or part of the Premises or the lease at any time or times upon written consent of the Landlord, such approval not to be reasonably withheld.
. COMPLIANCE WITH MUNICIPAL REQUIREMENTS. The Landlord warrants that the building has been constructed in accordance with all municipal building and zoning by-laws and in accordance with all the requirements of all the relevant governmental authorities having jurisdiction. The Landlord further warrants that all the construction, plumbing, hydro and any other permit fees and utility connection costs, where applicable, have been or will be paid in full by the Landlord on or before the date of possession hereof.
. SIGNAGE. The Tenant shall have the right to erect and exhibit such signs and sign structures as it deems necessary, identifying the Tenant and the Tenant's business activities, on the Premises, at the Tenant's own expense, subject to existing municipal by-laws and requirements. Upon termination of the Lease the Tenant shall be permitted to remove all such signing at its own expense but shall repair any damage caused to the Premises by such removal.
. SEVERABILITY. If any part of this Offer is determined to be invalid or unenforceable by the decision of any court of competent jurisdiction, which determination is not appealed or appealable, for any reason whatsoever, such invalidity or unenforceability will not invalidate the entire Offer, but the Offer will be construed as if it did not contain the particular provision held to be invalid and the rights and obligations of the Parties will be construed and enforced accordingly.
. BINDING AGREEMENT. The Parties agree that upon acceptance of this Offer by the Landlord, this Offer shall constitute a binding agreement between the Parties hereto.
. IRREVOCABILITY. This Offer will be irrevocable until on , after which time, if not accepted, will become null and void.
IN WITNESS WHEREOF, the Tenant has executed this Offer in the manner prescribed by law as of the day first written above.
The Undersigned, being the Owner and/or Landlord of the Premises, hereby accepts this Offer to Lease and agrees to be bound by the terms and conditions herein.