A sample letter of intent to occupy can be a very important document. There are times you are looking for a location to establish your business and youve just discovered the perfect one. However, there are a lot of things that still need to be done to ensure that you get what you want and the current owner or landlord understands your requirements. A letter of intent to occupy is basically a way to get all parties involved in the potential deal to understand what is expected of them before a final agreement is signed. This is important in order to avoid any misunderstanding. A letter of intent is mostly used with regards to business dealings or when renting or buying a house. There are parents who also used letter of intent to specify their desire regarding the future of their children in case of death.
When you write a letter of intent to occupy, you will of course have visited the house or the commercial property and have verbally expressed your wish to the agency that will be facilitating the deal or to the landlord directly. However, such a letter will get all parties involved updated as to what is expected.
Here is a sample letter of intent to occupy that can be adapted to most situations
Location or Premises: The premises located at (name of street and other official description) with a XXXX square feet of space.
Monthly Rent and Yearly Increase: As agreed, the monthly rent of the above mentioned premises will be $$$ with a yearly increase of x% that will take place on the 1st of (month)
Sellers or Owner Improvement: The current owner or landlord agrees to take care of outstanding repairs (details of things to be repaired) and it will be the responsibility of the new occupant to ensure further maintenance from the date on which the formal contract takes effect.
Date of Terms of Final Agreement: The contract will take effect after the above mentioned owner improvement has been carried out.
If you accept the terms stated above in this letter of intent to occupy please sign below.
The letter of intent to occupy is not legally binding however, it can help reiterate your verbal agreement and ensure there a no misunderstanding before the actual contract is signed.