A landlord has 2 options when placing their property for lease:

1.  Hiring a Broker – A broker will show what the property is worth to the landlord, list for lease, and handle initial negotiations with a willing tenant. For this service, the broker will charge a commission based on a percentage of the initial term (typically 3% to 8%).
2. For Lease by Owner – If the landlord prefers to lease themselves, it is recommended to upload photos and enter the property details into online marketplaces such as LoopNet and Crexi.

Immediately after listing the property, the landlord will most likely be busy providing information to prospective tenants. If a potential tenant shows interest, they may request a property showing.

The rent is commonly priced per square foot ($/sf). The best way to determine the “market rent” is to know what other tenants are paying in the area.

• Property Expenses ($) – It is common for the tenant to pay for a portion (or all) of the common area maintenance expenses, including real estate taxes, insurance, and maintenance.
• Landlord’s Improvements – The landlord’s responsibilities regarding setting up the space to suit the tenant’s specific needs.

When the terms are agreed between the parties, a commercial letter of intent is commonly written which is a non-binding contract that outlines the main terms of an agreement.

Commercial Lease Letter of Intent

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A landlord, broker, or attorney (recommended) can write a commercial lease. It should include the responsibilities, obligations, and liabilities of both the landlord and tenant while adhering to federal, state, and local laws.