A Letter of Intent to Lease Commercial Space is commonly used in Austrian commercial real estate transactions as a preliminary step before entering into a formal lease agreement. This document serves to memorialize the initial understanding between a prospective landlord and tenant regarding the proposed lease of commercial property. It typically includes key commercial terms such as rental rates, lease duration, property specifications, and any special conditions, while maintaining a non-binding nature except for specific provisions like confidentiality and exclusivity. The document must align with Austrian legal requirements, particularly those outlined in the ABGB and UGB, and serves as a foundation for further negotiations and due diligence. It's particularly useful in complex commercial leasing situations where parties need to establish clear parameters before investing significant time and resources in detailed lease negotiations.
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1. Letter Date and Parties: Opening section identifying the date and the full legal names and addresses of both the prospective landlord and tenant
2. Property Description: Detailed description of the commercial space, including its address, floor area, and any included facilities or amenities
3. Proposed Commercial Terms: Key commercial terms including proposed rent, lease duration, and anticipated commencement date
4. Intended Use: Statement of the intended use of the premises and any specific requirements or modifications needed
5. Due Diligence Period: Timeframe for conducting necessary investigations and due diligence
6. Exclusivity Period: Period during which the landlord agrees not to negotiate with other potential tenants
7. Next Steps: Outline of the process for moving forward towards a formal lease agreement
8. Non-Binding Nature: Clear statement that the letter is non-binding except for specific terms (such as confidentiality and exclusivity)
9. Signature Block: Space for both parties to sign and date the letter
1. Deposit Terms: Include when initial deposit or security requirements need to be specified
2. Deadline for Response: Include when a specific timeframe for response is required
3. Confidentiality Provisions: Include when sensitive information will be exchanged during negotiations
4. Cost Allocation: Include when parties need to specify who bears the costs of lease preparation and negotiations
5. Condition Precedents: Include when certain conditions must be met before proceeding with the lease
6. Building Rules Reference: Include when there are specific building rules or regulations that will affect the tenancy
7. Broker Statement: Include when real estate brokers are involved in the transaction
1. Floor Plan: Preliminary floor plan or layout of the commercial space
2. Proposed Rent Schedule: Detailed breakdown of proposed rent payments, including any escalations
3. Proposed Fit-out Schedule: Timeline and basic specifications for any tenant improvements or fit-out works
4. Property Photos: Current photographs of the commercial space and common areas
5. Due Diligence Requirements: List of documents and information required for due diligence
6. Building Services: List of available building services and facilities
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Retail
Office Space
Industrial
Hospitality
Healthcare
Technology
Financial Services
Professional Services
Manufacturing
Logistics
Entertainment
Education
Food and Beverage
Relevant Teams
Legal
Real Estate
Facilities Management
Finance
Operations
Business Development
Property Management
Asset Management
Risk Management
Corporate Development
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Facility Manager
Property Manager
Legal Counsel
Commercial Lease Manager
Business Development Manager
Operations Director
Real Estate Agent
Asset Manager
Commercial Property Broker
Expansion Manager
Site Selection Manager
Corporate Real Estate Manager
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