You may think you have a decent relationship with your landlord. Still, you will need a lease if you do not intend to renew it. This is where you need to write a commercial lease termination letter to landlord. A prompt notification would help ensure the return of your deposit, and the note would be more critical if you terminate the lease early.
When Should the Commercial Lease Termination Letter to Landlord be sent?
The letter should be sent a month before the end of the lease period. However, the lease should be reviewed first to ensure you have followed the specified procedure. Though the average is a month, it can vary.
How Do You Write the Lease Termination Letter to Landlord?
The followings are the information that should be included in the commercial lease termination letter to landlord.
- The complete address of the property
- Date when you plan to vacate, give the keys, and date when you plan to turn off the utilities
- A consent for the property inspection
- Forwarding address and the details of your contact information
What Should I Include in the Early Commercial Lease Termination Letter to Landlord?
If you intend to end the lease early, clearly state the fact in the opening paragraph. Elaborate the reasons from the business point of view for your acts, and make sure to refer to them if the lease terms are open for early termination. Try to negotiate with the landlord if a penalty is mentioned in the contract to minimize the costs you have to pay.
How to Start a Commercial Lease Termination Letter to Landlord
You can start the letter by stating the details of the date when you plan to end the contract and the date you plan to move out of the property. You can also include the reason for your leaving.
The Sample of Commercial Lease Termination Letter to Landlord
Here is the sample to help you craft your own commercial lease termination letter:
[Address of the property]
Dear Mr. Crawford,
The commercial lease between Minnesota Corporation and Star Industries expires on December 22, 2015. This letter is to inform you that Minnesota Corporation will not be renewing the contract and we will move to a new location.
Our business has grown tremendously to the point that we can invest in purchasing our own building over the last three years. In the next two months, we are going to close the facility and plan to move from there. We are planning to vacate from the current building by November 22, 2015. However, we will value our leasing conditions and pay to Star Industries for the rent from November to December.
We want to thank you and Star Industries for being great landlords and allowing our business to grow. If you have any concerns, feel free to reach me at 666-288-2223 or email me at email@example.com.
President of Minnesota Corporation
That’s how to write a commercial lease termination letter to landlord. The key points of writing this letter are to include the date when you plan to move, the reason why you move, and other conditions stated in the lease.