Q: The validity of a Landlorf-Tenant contract and the Letter Of Intent
Regarding a contract for the use of a building. It has been signed by both parties. The date agreed to have use of the building is October 1, 2020 for $3000 monthly rent giving us 3k sqft and verbally agreeing to adding another 50 sqft to make it 3050sqft of usable space.
The initial Letter of intent was for 2500sqft. No money has been exchanged at all for upfront fees are anything. After the initial contract of $3000 was signed, the owner asked if we would front $40,000 to complete the rehab of our portion of the building and our first 2 months in the building will be rent free. Is it valid?
A: The validity of a contract is determined by its terms. You should have had an attorney involved in reviewing the contract. There are many contractual provisions that a landlord will right in a pro-landlord manner that an attorney could have adviseD you. I cannot tell from your post whether you desire to pay the money up front for rehab in exchange for a rent adjustment. If you want to take up the offer you’d be foolish to do so without both strong and clear contractual language and a level of comfort that you won’t lose the money.
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