Many brokers and owners of small commercial spaces are not so strict about getting a detailed, written agreement regarding the business terms in a lease BEFORE generating the commercial lease.
We get it. Why spend the time going through all the details and coordinating reviews and written agreement?
But this investment of effort actually pays off. When the lease is being drafted and negotiated, things move quickly when the only things being discussed have to do with word choice. When there are unclear business terms, the entire lease process can easily be paused, adding time (and risk) to the transaction.
The most seasoned brokers and owners know how to create a detailed letter of intent (LOI) and we take that and run with it.
And for others, we get involved at the "letter of intent" stage so that we make sure that this document is clear and thorough, even including various exhibits that will be used in the lease as well .
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