top of page

Lease Letter of Intent

Lease LOI
Co-founder Nicholas Broder looking and pointing up confidently with thought bubble: "You'll have your contract in minutes. I won't even break a sweat."
Rumi's Kitchen co-owner Stephen Kaplan pointing up at the Lease LOI Consultative Form and smiling
Commercial Lease Checklist.png

Download our Commercial Lease Checklist

This Checklist outlines the 20 most critical lease provisions to check before you sign your commercial lease.  It can help you avoid millions of dollars in potential liability.   Or better yet, get our Lease Letter of Intent (aka LOI) above that contains many of these same protections.  You'll have specific language to add to your LOI as you negotiate with the landlord.   Better to handle that negotiation before attorneys get involved! 

Checklist

$50 million dollar restaurant co-owner and business attorney talk what lease provisions you need to scale big.
They prepped big time for this interview!

Co-founder Jonathan Page holding a copy of the book Man's Search for Meaning, but backwards and peaking at Nicholas's book; co-founder Nicholas Broder holding the book Blue Ocean Strategy and looking over at Jonathan concerned; Rumi's Kitchen owner Stephen Kaplan reading a Zag; all three are sitting together at a restaurant bar; first caption: "Jonathan Page and Nicholas Broder are co-founders of Contract Sprint, licensed attorneys specializing in business law, and have helped 8-figure and 9-figure businesses scale big and with confidence! Now, they bring that expertise to businesses of all sizes." Second caption: "Stephan Kaplan is the co-owner of Rumi's Kitchen, a $50 million dollar restaurant group specializing in Persian cuisine with locations in Atlanta, Houston and DC. Kaplan is also working on a tech product called HQ for restaurant management."
Videos

Why have a Commercial Lease LOI?

For Lease Sign

Many commercial tenants simply sign the landlord-friendly lease presented, so long as the lease reflects the negotiated base rent and tenant improvement allowance.  This is a big mistake!  What happens if your business fails to perform as expected twelve months from now at this location?  Under most landlord-friendly leases, the landlord can require you to stay put, even though your business is losing money.  If you attempt to terminate, the lease will allow the landlord to accelerate the rent over the 

the remaining lease term.  If you still have 9 years left on the initial term, this means the landlord demanding you pay the rent owed over 9 years plus its attorneys' fees and collection costs.  That could be millions in liability.  You can avoid this bad result by negotiating a kick-out clause.  Did you sign a personal guaranty?  Did you limit it, by negotiating a release after a specified period or reducing your personal liability to a rolling 12 months?  These are just a few of the lease terms that you should negotiate in your commercial lease.  Our Commercial Lease Letter of Intent allows you take a strong position from the very beginning, before attorneys get involved.  The Letter of Intent stage is the best place to negotiate these other non-economic terms.  Once attorneys get involved, it becomes expensive and protracted.  There's only one step left to take.  Get a Lease LOI and experience the difference.

Explanation

Watch the full interview below.

bottom of page