This office lease provision states that the landlord and tenant each warrant and represent to the other party that there was no broker, finder or similar person, other than those listed, entitled to a commission, fee or other compensation, instrumental in consummating the lease. It also states that no conversations or prior negotiations were had by the landlord or tenant, respectively, or anyone acting on behalf of the landlord or the tenant, respectively, with any broker, finder or similar person, other than those listed, concerning the renting of the demised premises.
Arkansas Lease Provisions Relating to Brokers are vital components of a lease agreement that define the rights, obligations, and responsibilities of brokers involved in leasing transactions in the state of Arkansas. These provisions aim to provide clarity and legal protection for both landlords and brokers throughout the leasing process. Here are some key Arkansas Lease Provisions Relating to Brokers and their different types: 1. Brokerage Services: This provision outlines the services that a broker will provide to the landlord, such as marketing the property, screening potential tenants, negotiating lease terms, and facilitating the lease signing process. 2. Commission: This provision specifies the commission amount or percentage that the broker will receive upon successful lease execution. It highlights when the commission is due and any conditions that must be met for the broker to receive payment. 3. Exclusive Representation: This type of provision grants exclusive rights to a specific broker to represent the landlord in leasing activities. It prevents the landlord from working with any other brokers during a designated period. 4. Non-Exclusive Representation: In contrast to exclusive representation, this provision allows the landlord to engage multiple brokers to assist with leasing activities simultaneously. It clarifies the commission-sharing arrangements and the obligations of each broker. 5. Tenant Procurement: This provision relates to situations where the tenant is procured directly by the landlord without any involvement from the broker. It addresses whether the broker is entitled to a commission or fee in such cases and under what circumstances. 6. Termination and Renewal: These provisions focus on the duration of the broker's agreement with the landlord. They outline conditions under which the agreement can be terminated by either party and may include protocols for lease renewals or extensions handled by the broker. 7. Indemnification: This provision holds the broker harmless for any claims, liabilities, or expenses arising from the leasing process, as long as the broker acts in good faith and complies with legal and ethical standards. 8. Licensure Requirements: Arkansas Lease Provisions Relating to Brokers may also mandate that the broker involved in leasing activities holds a valid real estate license issued by the Arkansas Real Estate Commission. This ensures that brokers are duly qualified and regulated to perform brokerage services. It is significant for landlords and brokers to consult legal experts to ensure that their lease agreements adopt Arkansas Lease Provisions Relating to Brokers appropriately. These provisions safeguard the interests of all parties involved while ensuring compliance with Arkansas state laws and regulations.Arkansas Lease Provisions Relating to Brokers are vital components of a lease agreement that define the rights, obligations, and responsibilities of brokers involved in leasing transactions in the state of Arkansas. These provisions aim to provide clarity and legal protection for both landlords and brokers throughout the leasing process. Here are some key Arkansas Lease Provisions Relating to Brokers and their different types: 1. Brokerage Services: This provision outlines the services that a broker will provide to the landlord, such as marketing the property, screening potential tenants, negotiating lease terms, and facilitating the lease signing process. 2. Commission: This provision specifies the commission amount or percentage that the broker will receive upon successful lease execution. It highlights when the commission is due and any conditions that must be met for the broker to receive payment. 3. Exclusive Representation: This type of provision grants exclusive rights to a specific broker to represent the landlord in leasing activities. It prevents the landlord from working with any other brokers during a designated period. 4. Non-Exclusive Representation: In contrast to exclusive representation, this provision allows the landlord to engage multiple brokers to assist with leasing activities simultaneously. It clarifies the commission-sharing arrangements and the obligations of each broker. 5. Tenant Procurement: This provision relates to situations where the tenant is procured directly by the landlord without any involvement from the broker. It addresses whether the broker is entitled to a commission or fee in such cases and under what circumstances. 6. Termination and Renewal: These provisions focus on the duration of the broker's agreement with the landlord. They outline conditions under which the agreement can be terminated by either party and may include protocols for lease renewals or extensions handled by the broker. 7. Indemnification: This provision holds the broker harmless for any claims, liabilities, or expenses arising from the leasing process, as long as the broker acts in good faith and complies with legal and ethical standards. 8. Licensure Requirements: Arkansas Lease Provisions Relating to Brokers may also mandate that the broker involved in leasing activities holds a valid real estate license issued by the Arkansas Real Estate Commission. This ensures that brokers are duly qualified and regulated to perform brokerage services. It is significant for landlords and brokers to consult legal experts to ensure that their lease agreements adopt Arkansas Lease Provisions Relating to Brokers appropriately. These provisions safeguard the interests of all parties involved while ensuring compliance with Arkansas state laws and regulations.
