Letter of Intent (LOI) and the Lease
Ask for a blank copy of the proposed lease beforehand when you submit your Letter of Intent, which is a non-binding offer to Lease. Carefully review it with your attorney.
What to look (out) for:
1. Rent
a. NNN or Gross lease
b. Price per square foot
c. Time of lease/renewal term/require notices
d. Cost of living increases
e. Maintenance fees
f. Obligation to participate in co-op Resident advertising
2. Will landlord assume or finance any resident improvements (TI’s)?
3. Review center restrictions for signs Review Sign Criteria
a. Sign on building, size and type, color – grand opening banners, posters in windows – center signs