door to the next phase of negotiations.
LETTER OF INTENT F INTENT
This is what the tenant sends to the landlord when they fully commit to leasing the open space. It will include the terms of the lease, any final negotiations, concessions, and a timeframe. It is signed before the lease is signed and finalized. The landlord (or their broker) will need to consider the tenant a serious candidate before signing this. Think of it as a pre-lease. Landlords can receive more than one letter of intent and choose the tenant they think suits them best. This is why you want this to show your agreements and future plans with the landlord. Negotiations should be done by this point.
TENANT REPRESENTATIVE
This is who you would hire when you start your search. We only work for you and are obligated to do anything in your best interest. We are here to help you in your office search, find the best property for you, optimize your space, and negotiate with the landlord and their team on your behalf. We work on a commission that is split with the landlord’s agent (if he has one). The landlord pays our commission fee as well, making it no cost to me to help tenants like you. Tenant representatives are intermediaries between tenants and landlords and can be used in this role throughout the entirety of the lease.
LANDLORD REPRESENTATIVE
While a tenant representative works with the party who needs space, the landlord representative does the same for the owner.
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