Letter Of Intent To Extend Lease Template for Australia

A Letter Of Intent To Extend Lease is commonly used in Australian commercial and retail leasing contexts when parties wish to initiate the process of extending an existing lease agreement. This document is typically prepared when the current lease term is approaching its end and both parties have expressed interest in continuing the tenancy relationship. It serves as a preliminary document that outlines the key terms and conditions under which the parties intend to proceed with the lease extension, including proposed duration, any modifications to existing terms, and timeline for finalizing the formal agreement. While not legally binding as a whole, it may contain certain binding provisions and must comply with relevant Australian state and federal legislation, including the Property Law Act and state-specific retail leasing regulations. The document helps establish clear communication between parties and provides a framework for subsequent lease extension negotiations.

1. Date and Addressing: Current date and formal addressing of the letter to the recipient party

2. Reference to Existing Lease: Clear identification of the current lease agreement, including its date, parties, and property details

3. Expression of Intent: Clear statement of intention to extend the lease and continue the tenancy

4. Key Extension Terms: Proposed duration of extension and any modified terms

5. Current Lease Status: Confirmation that the existing lease is in good standing and all obligations are being met

6. Timeline for Formal Agreement: Proposed timeline for negotiating and executing the formal lease extension

7. Non-Binding Nature: Statement clarifying that this is a non-binding letter of intent

8. Closing and Signatures: Formal closing, signature blocks for both parties