Letter of Intent
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This form lets Landlords enter into a binding agreement with a future Tenant, where both parties agree to the basic terms of leasing a property at a specified future date.
Document Last Modified: 8/31/2021
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There are times that it’s beneficial for both a Landlord and Tenant to agree that a Tenant will Lease a property at a future date.
Depending on the circumstances, the parties might not want to sign the Lease Agreement until closer to the move-in date. In these situations, it’s helpful for the parties to sign a Letter of Intent.
The purpose of the Letter of Intent is to provide written documentation of the agreement, outline the basic terms under which Tenant will Lease the property, and provide for a Good-Faith Deposit by the Tenant.
This form provides an easy way for Landlords to enter key information like move-in date, term of the tenancy, rent amount, security deposit, and the amount of the Good-Faith Deposit.
Landlords can use this form now to secure Tenants for a future date and then create the complete Lease Agreementwhen they’re ready!