Two pages that decide
most of the lease.
Enter the deal terms once and get a formatted letter of intent as a Word document, with every term stated as a number rather than a percentage nobody can reconcile later.
Analyze your first round free
Part of every deal. Round 1 is free, no card required.
How it works
Enter the terms
Premises, term, base rent, escalations, allowance, free rent, options, deposit and contingencies. The form asks for the fields counsel will look for.
Review the draft
The LOI is assembled in a conventional order with the binding and non binding split stated plainly, so nothing is implied by omission.
Export and send
Download it as .docx and edit it wherever you like. The document is not locked to this site.
What it changes
- Rent stated as a schedule
- Three percent annual increases leaves the compounding basis ambiguous. A year by year schedule does not, and it is the reference point every later round is measured against.
- The terms that are hard to win back, up front
- Guaranty form, expense cap and any termination right belong in the LOI. Raising them for the first time in round two reads as reopening the deal.
- A reference for every round after
- The first lease draft is prepared from the LOI and does not always match it. Having the LOI in the same deal record is what makes that comparison a five minute job.
- One consistent document
- No half edited copy of the last deal's term sheet, with the previous tenant's name still in paragraph four.
Questions
- What terms does the LOI cover?
- Landlord and tenant, premises and suite, approximate square footage, lease type, term in months, target commencement, base rent, escalations, tenant improvement allowance, free rent, options to extend, security deposit, contingencies and broker information.
- Is the LOI binding?
- The generated document states that neither party is bound to lease until a definitive lease is executed by both. Confidentiality and brokerage are the provisions usually kept binding. Have counsel review the binding effect language before you send anything.
- What format does it export?
- A Word .docx, so you can edit it in the tool your counterparty and counsel already use. Nothing is locked to this site.
- Which lease types are supported?
- NNN, gross and modified gross. The structure you pick changes how the operating expense terms are stated, because a triple net LOI needs the estimated nets and a gross LOI needs the base year.
- Why does the LOI matter so much?
- Terms conceded in an LOI are very hard to recover in the lease. A landlord who agreed to a non cumulative expense cap has to be argued out of a cumulative one; a tenant who never raised the cap has no basis to introduce it in round two.
- Does it cost anything?
- The LOI generator is part of a deal. Round 1 of every deal is free with no card, and $39 one time per deal unlocks every round after the first, the cited lease abstract and all exports.
Start the deal on a clean term sheet.
Create a deal, enter the terms, and export the LOI. Round 1 of every deal is free, so the first one costs nothing.