A Letter of Intent to Lease Residential Property is commonly used in the English and Welsh property market as a preliminary step before entering into a formal lease agreement. This document is particularly useful when parties want to document their serious intention to proceed with a lease while finalizing details or completing necessary checks. It typically includes proposed lease terms, property details, timeline for completion, and any specific conditions that need to be met. While not legally binding in terms of the actual lease, it helps establish clear expectations and can be particularly valuable in complex residential letting situations or when multiple parties are involved in the decision-making process.
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1. Sender and Recipient Details: Full names and addresses of both parties
2. Property Description: Full address and brief description of the property to be leased
3. Proposed Terms: Key lease terms including rent, deposit, and duration
4. Timeline: Proposed timeline for lease execution and move-in
5. Conditions Precedent: Any conditions that must be met before proceeding
6. Non-Binding Statement: Clear statement that this is not a binding lease agreement
1. Due Diligence Requirements: Specific requirements for background checks or references
2. Deposit Scheme Details: Proposed deposit protection scheme
3. Special Conditions: Any specific requirements or conditions
1. Property Photos: Current photographs of the property
2. Floor Plan: Basic layout of the property
3. Draft Lease Terms: Preliminary lease terms if already prepared
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