Letter Of Intent To Renew Commercial Lease

Letter Of Intent To Renew Commercial Lease Template for England and Wales

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Key Requirements PROMPT example:

"I need a Letter of Intent to Renew Commercial Lease for our retail store in Manchester city centre, with specific provisions for a 5-year extension starting March 2025 and including a break clause after 3 years."

Document background

A Letter of Intent to Renew Commercial Lease is commonly used when a commercial tenant wishes to formally communicate their intention to renew their existing lease agreement. This document, governed by English and Welsh law, typically precedes the formal lease renewal process and helps establish the groundwork for negotiations. While not legally binding, it outlines proposed terms, timelines, and any variations from the existing lease. It's particularly important in contexts where the Landlord and Tenant Act 1954 applies, helping both parties clarify their positions before entering into formal lease renewal negotiations.

Suggested Sections

1. Current Lease Reference: Details of existing lease including date, parties, and property description

2. Expression of Intent: Clear statement of intention to renew the lease

3. Proposed Terms: Key commercial terms for renewal (rent, duration, start date)

4. Timeline: Proposed timeline for negotiation and completion

5. Non-Binding Nature: Statement that this is subject to contract and not legally binding

Optional Sections

1. Proposed Changes: Any material changes from current lease terms, used when modifications are anticipated

2. Conditions Precedent: Any conditions that must be met before proceeding, used when specific requirements exist

3. Break Options: Proposed break clause terms, if applicable to the renewal

Suggested Schedules

1. Current Lease: Copy of existing lease agreement

2. Floor Plans: If any changes to demised premises are proposed

3. Schedule of Condition: If relevant to the renewal terms

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

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Let's create your Letter Of Intent To Renew Commercial Lease

Authors

Alex Denne

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