Document background
The Letter Of Intent Rental is a crucial preliminary document in the Irish property rental process, typically used before entering into a formal lease agreement. It is particularly valuable in situations where parties need to document their serious intention to enter into a rental arrangement while still finalizing details and conducting due diligence. This document, while primarily non-binding, sets out key commercial terms, timelines, and conditions for the proposed lease, operating within the framework of Irish property law and the Residential Tenancies Acts. It serves multiple purposes: documenting initial agreements, facilitating further negotiations, and potentially securing exclusivity periods. The Letter of Intent helps prevent misunderstandings by clearly articulating expectations and proposed terms, while also potentially including binding provisions for certain aspects such as confidentiality or exclusivity periods.
