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The Letter of Intent to Renew Commercial Lease is a crucial document in Canadian commercial property relationships, typically used when an existing tenant wishes to exercise their renewal option or initiate renewal negotiations before their current lease expires. This document serves as a formal communication tool that helps prevent misunderstandings and provides a foundation for lease renewal negotiations. It should be prepared well in advance of the current lease's expiration date, usually within the timeframe specified in the original lease agreement. The letter outlines essential terms such as the proposed renewal period, rental rates, and any desired modifications to the existing lease terms. While not a legally binding contract itself, it demonstrates the tenant's serious intention to renew and often forms the basis for the final lease renewal agreement. Under Canadian provincial commercial tenancy laws, this document plays a significant role in the commercial lease renewal process and helps protect both parties' interests during negotiations.

1. Date: Current date of the letter

2. Recipient Details: Full name and address of the landlord/property manager

3. Subject Line: Clear indication that this is a Letter of Intent to Renew Commercial Lease

4. Property Identification: Specific details of the leased premises including address and unit number

5. Current Lease Reference: Reference to the existing lease agreement including its date and parties

6. Statement of Intent: Clear expression of the tenant's intention to exercise their right to renew the lease

7. Key Terms: Brief outline of the primary terms for renewal (term length, proposed rent)

8. Timeline: Proposed timeline for negotiation and execution of the renewal

9. Contact Information: Details for follow-up communication

10. Closing: Standard letter closing with signature block