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Letters are versatile documents that you can use for your apartment rental application, an intent of lease renewal, a request for lease termination, and other concerns you would like to address to your landlord. Lease letters formally communicate your concerns, issues, requests, etc. to the right authorities. If you find it tedious to write a lease letter from scratch, we have a wide selection of ready-made Lease Letter Templates that you can download and use! Editable in Apple Pages and other file formats, these templates guarantee an efficient writing process. These also have well-written content, comprehensive format, and user-friendly features that will help you out. Communicate lease-related topics clearly by downloading our templates today!
According to Market Research, companies that offer rent and lease of physical assets acquire about 24% of their sales in passenger cars and light trucks rental/lease; 20% from other commercial and industrial equipment; 11% from construction, manufacturing, mining, and forestry equipment, and so on.
In this light, we have some tips on how to write an effective lease letter in Apple Pages that you can use for lease-related correspondence.
The key to any letter is to be clear and direct with your purpose. There's no need to beat around the bush; you should immediately state your purpose in the introduction of your letter. Summarize your point at the beginning of the letter to quickly capture the attention of your reader.
Although this is a business letter, you should aim to make your lease letter succinct. Ensuring that you are clear and direct to your main point will help you avoid including unnecessary and irrelevant details. Moreover, a brief and simple letter has a smaller room for misinterpretations and is easily understandable to your receiver.
As mentioned, a lease letter falls within the business or formal type of letter; hence, it should follow a formal letter format. You can use a full block or semi-full block format for your letters. You should also ensure that essential parts, such as the addresses, date, salutation, body, closing, and signature line, are present in your letter.
A lease proposal letter or an intent-of-renewal letter is a formal letter, which means you need to use a professional language and tone. A vital factor to remember for lessees is that landlords or lessors may judge your conduct or character based on how you present yourself in writing; hence, the importance of writing professionally.
A landlord or lessor will only approve your lease application if he/she can prove your ability to pay the rental/lease fee. Your application letter will be an excellent way to introduce yourself and your financial capacity to be a viable lessee. Moreover, your letter will support or introduce the other documents you will submit for your application.
The list below presents some of the lease letters you can write your lease-related concerns:
1. Lease application letter
2. Lease proposal letter
3. Letter of intent for renewal/termination/early termination
4. Request for payment extension letter
The following are the most common types of leases:
1. Absolute net lease – common in single-tenant systems where the tenant pays for the insurance, taxes, roof, and maintenance of the property.
2. Triple net lease – the pass-through or operating expenses such as insurance, maintenance, and real property taxes are passed onto the tenant as a form of rent excesses.
3. Modified gross lease – all the insurance, property taxes, and property maintenance are paid by the property owner, while the tenant pays for the janitorial, utility, and interior maintenance costs.
4. Full-service lease – the property owner handles the cost of operation, which includes the common area maintenance, taxes, interior, insurance, utility, and janitorial fees for a higher monthly lease rate.
In most cases, the only difference between the two is their duration or longevity. A lease typically ends 12 months after the commencement date; meanwhile, rent only lasts up to 30 days.
The main advantage of leasing is the lesser outlay of cash at the beginning of a lease compared to purchasing. Also, some companies offer 100% financing, which means the lessee can pay off the leasing amount of a monthly basis instead of paying all the cost at one time. Additional advantages of leasing are the continuous replacement of obsolete properties, asset flexibility, lower-cost financing, reduce taxable income due to lease payments, and off-the-books financing due to operating leases.