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Lease Option Agreement Contract
"I need a Lease Option Agreement Contract for a commercial warehouse property in Dublin, with a 3-year lease term starting March 1, 2025, and an option to purchase that can be exercised after 18 months, including provisions for industrial use and quarterly rent reviews."
1. Parties: Identifies and defines the Landlord/Optionor and Tenant/Optionee with their full legal names and addresses
2. Background: Sets out the context of the agreement, including property ownership and parties' intentions regarding the lease and option
3. Definitions: Defines key terms used throughout the agreement including Property, Option Period, Option Price, and Lease Term
4. Lease Terms: Details the fundamental lease provisions including rent, term, maintenance obligations, and use restrictions
5. Option Grant: Explicitly grants the option to purchase and specifies the option period
6. Option Price and Payment Terms: States the agreed purchase price and payment structure if the option is exercised
7. Exercise of Option: Specifies the process and requirements for exercising the option
8. Title and Due Diligence: Addresses property title requirements and the due diligence process
9. Completion Process: Details the steps and requirements for completing the purchase if the option is exercised
10. Default and Remedies: Specifies what constitutes default under either the lease or option and the available remedies
11. Assignment and Transfer: Addresses whether and how the lease and/or option rights may be transferred
12. Notices: Specifies how and where formal notices must be delivered
13. Governing Law: Confirms Irish law governs the agreement and specifies jurisdiction for disputes
14. Execution: Formal signing section with date and witness requirements
1. Option Fee: Required if there is a separate fee for the option, distinct from the lease payments
2. Rent Credit: Include when a portion of rent payments will be credited toward the purchase price
3. Property Maintenance During Option Period: Include for specific maintenance arrangements during the option period
4. Insurance Requirements: Include when specific insurance requirements beyond standard lease insurance are needed
5. Planning Permission: Include when the option exercise is conditional on obtaining specific planning permissions
6. Mortgage Contingency: Include when the option exercise is subject to the optionee obtaining financing
7. Environmental Provisions: Include for properties with known environmental concerns or requirements
8. Third-Party Consents: Include when the agreement requires specific third-party approvals
1. Schedule 1 - Property Description: Detailed legal description of the property including boundaries, fixtures, and fittings
2. Schedule 2 - Lease Terms: Detailed lease provisions including rent reviews, service charges, and maintenance obligations
3. Schedule 3 - Option Exercise Notice: Template form for exercising the option
4. Schedule 4 - Permitted Use: Detailed description of how the property may be used during the lease term
5. Schedule 5 - Property Condition Report: Detailed assessment of property condition at lease commencement
6. Appendix A - Property Plans: Maps, floor plans, and other relevant property drawings
7. Appendix B - Building Regulations Compliance: Documentation of compliance with relevant building regulations
8. Appendix C - Property Title Documents: Copies of relevant title documents and searches
Authors
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Office Space
Agriculture
Hospitality
Manufacturing
Warehousing
Professional Services
Legal
Real Estate
Property Management
Operations
Finance
Business Development
Facilities
Asset Management
Investment
Risk Management
Compliance
Property Manager
Real Estate Agent
Legal Counsel
Property Developer
Commercial Director
Facilities Manager
Asset Manager
Investment Manager
Property Solicitor
Lease Administrator
Real Estate Investment Director
Chief Financial Officer
Operations Director
Business Development Manager
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