Lease Term Sheet
I. Introduction
This Lease Term Sheet outlines the preliminary terms for the leasing arrangement proposed between [Your Name] and [Tenant's Name].
This document serves as a base for the official lease agreement and aims to ensure both parties are aware of the fundamental terms before proceeding with a formal contract.
This term sheet is for informational purposes only and does not constitute a legally binding agreement.
The main objective of this document is to facilitate clear communication and outline the expectations from each party regarding the premises located at [Property Address]. Once agreed upon, these terms will be elaborated in a detailed lease agreement, legally binding all included parties.
II. Lease Details
A. Leased Premises
The specifics of the premises to be leased are as follows:
Address: [Property Address]
Square Footage: [Total Square Footage]
Use: The premises may be used solely for the purpose of operating a retail clothing store.
B. Term of the Lease
The lease duration will be as agreed upon by both parties:
Renewal Options: The tenant shall have the option to renew the lease for an additional term of [Number of Years] years, subject to mutual agreement on rental terms and conditions at the time of renewal. The tenant must provide written notice of intent to renew at least [Number of Days/Months] prior to the expiration of the initial lease term.
III. Financial Terms
A. Rent Obligations
The following outlines the financial commitments by [Tenant's Name]:
B. Additional Financial Provisions
In addition to monthly rent, there are other financial considerations:
Maintenance Fees: The tenant shall be responsible for all maintenance and repair costs for the leased premises, including but not limited to HVAC systems, plumbing, and electrical systems.
Utilities Responsibility: The tenant shall be responsible for all utilities, including water, gas, electricity, and trash removal, unless otherwise agreed upon in writing.
IV. Special Terms
This section captures any special conditions or clauses that are critical to the lease agreement:
V. Legal and Regulatory Compliance
Both parties must comply with all relevant laws and regulations pertaining to the lease of the premises. Specific compliance related terms are as follows:
Insurance Requirements: The tenant shall maintain insurance coverage for the premises, including general liability insurance, property insurance, and any other insurance required by law or reasonably requested by the landlord.
VI. Signatures
All terms outlined in this Term Sheet are preliminary and will take effect only upon execution of a formal lease agreement.
By signing this Term Sheet, the parties indicate their intention to continue negotiations in good faith.
This Term Sheet shall be executed in duplicate as of [Date]:
For [Your Name]: | 
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For [Tenant's Name]: |
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Term Sheet Templates @ Template.net
