Oakland Michigan Brokerage Agreement for Services to Landlords is a legally binding contract that outlines the terms and conditions between a landlord and a brokerage firm when seeking assistance in property rental management. This agreement primarily focuses on the services offered by the brokerage firm to the landlords and the rights and obligations of both parties involved. Under the Oakland Michigan Brokerage Agreement, landlords can choose from several types of agreements based on their specific needs: 1. Exclusive Brokerage Agreement: This type of agreement grants the brokerage firm exclusive rights to market and lease the landlord's property within a specified period. During this period, the landlord cannot hire another brokerage firm to perform these services. 2. Non-Exclusive Brokerage Agreement: In a non-exclusive agreement, the landlord can hire multiple brokerage firms to market and lease the property simultaneously. Whichever brokerage firm successfully leases the property is entitled to the commission. 3. Multiple-Listing Service (MLS) Agreement: Landlords may opt for an MLS agreement, which allows the brokerage firm to list and market the property on a shared platform accessible to other licensed real estate agents. This enhances the property's exposure and increases the chances of finding potential tenants. The Oakland Michigan Brokerage Agreement for Services to Landlords typically includes the following key details: 1. Parties Involved: It identifies the landlord and the brokerage firm involved in the agreement, along with their respective contact information. 2. Property Description: This section provides a detailed description of the rental property, including its address, size, amenities, and any unique features. 3. Services Provided: It outlines the services that the brokerage firm will offer to the landlord, such as advertising and marketing the property, screening potential tenants, conducting property showings, negotiating lease terms, and collecting rent payments. 4. Duration: The agreement specifies the duration for which the brokerage firm will provide its services, whether it's a fixed term or ongoing agreement. 5. Compensation and Commission: The agreement states the brokerage fee or commission percentage that the landlord will pay upon successful lease execution. It may also include details on how the fee will be divided if multiple brokerage firms are involved. 6. Responsibilities of the Landlord: This section outlines the landlord's responsibilities, such as maintaining the property, complying with relevant laws and regulations, and fulfilling financial obligations. 7. Termination: The agreement contains provisions for termination, including any notice period required by either party and circumstances that may lead to termination before the agreed-upon duration. It is crucial for both parties to carefully review and understand all provisions in the Oakland Michigan Brokerage Agreement for Services to Landlords before signing. Seek legal advice if necessary to ensure compliance with local and state laws.
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.