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It defines whether the agreement is binding or non-binding and provides selectable options for the lease term (fixed period or month-to-month). The template covers base rent payment timing, monthly expenses, late-rent consequences, security deposit due dates, subletting restrictions, furnished items and appliances, parking, pets, and lease termination rights. 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After this Letter of Intent has been made, a formal agreement may be constructed to the benefit of the Parties involved.  \nI. The Lessee:   (the “Lessee”) .  \nII. The Lessor:   (the “Lessor”) .  \nIII. Address of Premises:   (the “Premises”) .  \nIV. Lease Term: Choose One (1):  \n☐ -The term of the lease shall be for a fixed period commencing on the   day of   , 20  , and expiring on the   day of   , 20   \n☐ -The term of the lease shall commence on the   day of   , 20  , and continue as a month-to-month tenancy.  \nV. Base Rent: The base rent of   Dollars ($  ) shall be paid monthly on the   of each month with the first payment due prior to or upon the commencement of the lease (the “Base Rent”) .  \nVI. Expenses: In addition to the Base Rent, the Lessee shall be required to pay the following monthly expenses:  \n________________________________________________________________________________  \n.  \nThe Lessor shall be required to pay the following monthly expenses:  \n________________________________________________________________________________  \n  .  \nVII. Late Rent: If the Lessee fails to pay the Base Rent for more than   days after it is due, a late fee of   Dollars ($  ) may be charged each day until the overdue amount is paid.  \nVIII. Security Deposit: A security deposit in the amount of   Dollars ($  ) shall be due prior to or upon the signing of a lease.  \nIX. Subletting: The Lessee may not sublet the Premises without first obtaining the prior written consent of the Lessor.  \nX. Furnishing: The Lessor shall furnish the Premises with the following items:  \n________________________________________________________________________________  \n  .  \nXI. Appliances: The Lessor shall provide the following appliances in the Premises for the use of the Lessee:  \n________________________________________________________________________________  \n  .  \nXII. Parking: The Lessor shall provide   parking space(s) to the Lessee for a fee of   Dollars ($   ) to be paid ☐ upon signing a lease ☐ on a monthly basis in addition to the Base Rent.  \nXIII. Pets: The Lessee shall have the right to   pet(s) on the Premises. The following types of pets are allowed:    \nXIV. Lease Termination: Choose One (1):  \n☐ -The Lessee shall have the right to terminate the lease by providing at least   days’ notice to the Lessor.  \n☐ -The Lessee shall not have the right to terminate the lease.  \nXV. Additional Provisions:    \n________________________________________________________________________________  \n  .  \nXVI. Currency: All mentions of currency or the usage of the “$” icon shall be known as referring to the US Dollar.  \nXVII. Governing Law: This Letter of Intent shall be governed under the laws of the State of   .  \nXVIII. Acceptance: If you are agreeable to the aforementioned terms, please sign and return a duplicate copy of this Letter of Intent by no later than    \nLESSEE  \nLessee’s Signature   Date   Print Name    \nLESSOR  \nLessor’s Signature   Date   Print Name","cbCairM3fUFfYO8w","https://ap.wps.com/l/cbCairM3fUFfYO8w","pdf",164478,"English","# Residential Lease Letter of Intent\n## Parties and Premises Details\n## Lease Term Options\n## Rent, Expenses, and Late Fees\n## Security Deposit and Subletting\n## Furnishings, Appliances, and Parking\n## Pets and Lease Termination\n## Additional Provisions, Currency, and Governing Law\n## Acceptance and Signatures","[{\"question\":\"Is this residential lease letter of intent binding or non-binding?\",\"answer\":\"The template states it represents basic terms for either a binding or a non-binding agreement, selected by checking the appropriate option. After it is executed, a formal agreement may be constructed to benefit the parties.\"},{\"question\":\"What lease term options are provided in the letter of intent?\",\"answer\":\"It provides two selectable options: a fixed-period lease with a start and expiration date, or a month-to-month tenancy that begins on a specified date and continues monthly.\"},{\"question\":\"What happens if the tenant fails to pay base rent on time?\",\"answer\":\"If base rent is not paid for more than the specified number of days after it is due, a late fee of the specified amount may be charged each day until the overdue amount is paid.\"}]","Residential Lease Letter of Intent - Fillable Terms and Signature Sections | PDF"]