lease

Below is a sample letter termination of the lease. Letter of termination of lease is initiated by the landlord. Please note that the letter should be prepared in accordance with the lease agreement and not to violate its terms.

Dear [Tenant Name],

This is to notify you to quit and deliver up possession of [ADDRESS], which you presently occupy as our tenant, by [DATE]. This notice is given pursuant to paragraph [INSERT PARAGRAPH NUMBER OF LEASE AGREEMENT WHICH PROVIDES FOR TERMINATION ON 7 DAYS NOTICE] of your lease agreement.

Before starting of direct negotiations on lease, many landlords and potential tenants will execute a letter of intent setting forth wishes and expectations. These negotiations can be an enlightening process on both sides. Some basic definitions and understandings should be included for clarity in letters of intent - LOI. Consider it a way to avoid nasty surprises later. Create a paragraph for each section below, and include a signature line for all parties at the end.

Lease is a agreement by which an owner (the Landlord) of a specific asset (such as a parcel of land, building, equipment, or machinery) grants a second party (the Tenant) the right to its exclusive possession and use for a specific period and under specified conditions, in return for specified periodic rental or lease payments.

Landlord (Lessor) - An owner of property who rents it to another party, called a tenant.

Tenant (Lessee) - An individual or business which has possession of and pays rent for real estate owned by another party, called the landlord.

Commercial lease agreement is required if you want to rent commercial real estate, such as an office, store, warehouse etc., to others, it is necessary to have the lease agreement in writing. It is important to remember that a business lease is not like a dwelling rental. You need the right form that helps you answer all of the important questions, such as: who is responsible for repairs, what the landlord can charge, and what happens when the rent is late.