Letter Of Intent To Lease Commercial Space Template for Austria

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Key Requirements PROMPT example:

Letter Of Intent To Lease Commercial Space

"I need a Letter of Intent to Lease Commercial Space for a high-end retail store in Vienna's first district, with the lease to commence in March 2025; the document should emphasize our requirements for extensive storefront modifications and include a 60-day exclusivity period."

Document background
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.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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