What is an “offer to lease”?

//What is an “offer to lease”?

What is an “offer to lease”?

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  • What is an “offer to lease”?

An offer to lease is an agreement that comes before a lease. It is much like a terms sheet for a bank or an MOU. It can be binding or not binding depending on the case.

The landlord should use one for a number of reasons. It sets out the key terms of the lease which can avoid claims from a tenant down the track.

If it is binding, it binds the tenant to signing a lease. It binds the tenant to paying legal costs (unless the lease is a retail lease). It can also bind the tenant to paying other fees. It also binds the tenant to giving the bond.

The offer to lease should be consistent with the lease. If it is not, this could lead to claims from the tenant down the track.

We provide an offer to lease to the landlord or its agent to use free of charge. This is to ensure its terms are the same as the terms of the lease. You can only use it with our lease.

Please feel free to contact us if you have any queries.

2020-12-09T15:44:31+08:00

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