A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. It is a new offer made in response to an offer received. It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or there is no contract.
A New Jersey Letter of Conditional Acceptance — Counter offer to Property Owner from Prospective Tenant is a legal document used during the negotiation phase of a lease agreement. This letter effectively communicates changes or amendments the tenant wishes to propose regarding the terms presented by the property owner. In New Jersey, there are various types of Letters of Conditional Acceptance that tenants can utilize to negotiate with property owners. Some notable ones include: 1. New Jersey Commercial Lease Letter of Conditional Acceptance — Counter offer: This type of letter is specifically tailored for commercial properties, such as office spaces, retail stores, or warehouses. It outlines the proposed modifications to the lease terms, including rent, lease duration, renewal options, and any necessary improvements or repairs to the property. 2. New Jersey Residential Lease Letter of Conditional Acceptance — Counter offer: This letter is used when a prospective tenant is negotiating terms for a residential property, such as an apartment, house, or condo. It highlights changes to rent, security deposit, lease duration, pet policies, maintenance responsibilities, and any other relevant clauses based on the tenant's preferences. 3. New Jersey Lease Renewal Letter of Conditional Acceptance — Counter offer: If a tenant wishes to extend their lease agreement with the property owner but desires certain modifications, this letter is utilized. It delineates proposed changes to the renewal terms, such as rent increases, new clauses, updated maintenance or repair responsibilities, or changes in occupancy status. Regardless of the specific type, a New Jersey Letter of Conditional Acceptance — Counter offer to Property Owner from Prospective Tenant typically contains essential elements and keywords. These may include: 1. Contact Information: The tenant's full name, address, phone number, and email address. 2. Property Details: The property's address, including the unit number if applicable. 3. Property Owner's Information: The property owner's full name, address, phone number, and email address. 4. Original Offer Details: A clear reference to the original lease offer or proposal made by the property owner, including the terms, rental rate, lease duration, and any additional conditions. 5. Counter Offer Details: A detailed enumeration of the modifications or amendments the tenant seeks concerning the original offer. This may include proposed changes to rental rate, lease duration, security deposit, maintenance responsibilities, utilities, insurance, renewal options, or any other terms that require negotiation. 6. Deadline for Response: A reasonable timeline within which the property owner must respond to the counter offer. This ensures timely communication between the parties involved. 7. Signature and Date: The tenant's signature and the date the letter is written. It is crucial to consult with a legal professional or utilize attorney-reviewed templates to ensure the letter's accuracy, compliance with New Jersey laws, and to protect the tenant's rights and interests during negotiations.
