Term
Letter of intent (carta de intención)
A short, usually non-binding document in which landlord and tenant agree the main terms before drafting the lease.
A letter of intent (LOI) typically covers the space, rent, maintenance fee, key money, term, annual increases, grace period, guarantees and delivery condition.
It saves time and legal fees by aligning on the essentials first. Check which clauses, if any, are binding (such as exclusivity or confidentiality) before signing.
In Spanish: Carta de intención
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