End Of Lease Letter
The lessor gets reminded to exercise his option before the end of lease
When a lease is to expire the terms and conditions that were agreed upon by both the parties that are involved in the transaction have to be met with and the letter pertaining to this arrangement is known as end of lease letter. If, for example, you have made a an agreement of having the option of choosing to buy or not buy the property at the need of the lease you will have to first of all deposit a sum for choosing an option. Thereafter before a stipulated date you must notify the owner of the leased property whether or not you intend to exercise your option of buying the same leased property.
The option is not mandatory to choose but you must remember that if you choose not to exercise the option your deposited money is forfeited whereas if you do exercise your ption your money will be deducted from the actual price of the leased property.
This end of lease letter is sent to the lessee by the lessor in order to remind him or her of the closing date of the lease and about the requirement to decide whether or not you want to exercise the option that you had purchased in the agreement.
This letter is also considered as a notice from the lessor to the lessee before the due date is over so that the lessee can be reminded of the deal ad its arrangements and can take decision according to whatever choice he makes.
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