Los Angeles, California Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a legal contract that outlines the terms and conditions between a property owner (often referred to as the "landlord" or "lessor") and a licensed real estate broker. This agreement is specific to the leasing of premises in the vibrant city of Los Angeles, California. The primary purpose of a Listing Agreement with Broker for Leasing of Premises is to establish a working relationship between the property owner and the broker, allowing the broker to act as a representative in marketing, promoting, and securing tenants for the listed premises. In return for their services, the broker is entitled to a commission, usually calculated as a percentage of the total lease value. This comprehensive agreement typically includes various key elements: 1. Agreement Terms: It outlines the duration of the agreement, specifying the start and end dates during which the broker has the exclusive right to lease the property. 2. Property Description: It provides a detailed description of the premises being leased, including the precise address, size, layout, and any unique features or amenities. 3. Listing Price and Lease Terms: It sets forth the desired lease terms, including the monthly rental amount, security deposit requirements, lease duration, and any specific provisions or restrictions related to the premises. 4. Broker's Responsibilities: It outlines the broker's duties, such as advertising the property, conducting showings, evaluating tenant applications, negotiating lease terms, and facilitating the lease signing process. 5. Commission Agreement: This section specifies the broker's commission rate, how the commission is calculated, and when it becomes due. It may also include provisions for a cooperative commission to be split with cooperating brokers involved in the transaction. 6. Termination: It outlines the conditions under which either party can terminate the agreement, such as breach of contract or failure to perform agreed-upon duties. Although there might not be specific types of Los Angeles California Listing Agreement with Broker for Leasing of Premises with Commission Agreements, variations can exist based on specific circumstances, property types, and negotiated terms. For example, there could be different agreements for commercial properties, residential properties, or specific sectors like retail, industrial, or office spaces. In conclusion, the Los Angeles California Listing Agreement with Broker for Leasing of Premises with Commission Agreement is a vital legal document that helps property owners and brokers navigate the lease process effectively. This agreement ensures that both parties understand their roles and responsibilities while establishing a clear framework for the leasing and commission arrangement.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.