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.
Indiana Lease Provisions Relating to Brokers ensure that all parties involved in a lease agreement, including the lessor, lessee, and brokers, adhere to specific rules and regulations. These provisions aim to protect the rights and interests of all parties involved and ensure a fair and smooth leasing process. Some key lease provisions relating to brokers in Indiana include: 1. Brokerage Agreement: This provision outlines the terms and conditions of the agreement between the lessor and the broker. It specifies the duties, responsibilities, and compensation of the broker, including commission rates and payment terms. 2. Exclusive Representation: In an exclusive representation provision, the lessor grants the broker exclusive rights to lease the property. This means that the lessor cannot work with any other brokers during the lease term. 3. Duties and Responsibilities: The lease provisions specify the duties and responsibilities of the broker, which may include marketing the property, conducting property tours, screening potential tenants, and negotiating lease terms on behalf of the lessor. 4. Disclosure Requirements: These provisions require brokers to disclose any conflicts of interest, such as any existing relationships with the lessor, limitations on their representation, or any potential financial gain they may receive from the lease agreement. 5. Commission and Payment Terms: Indiana lease provisions relating to brokers include details about the broker's commission, including the amount or percentage of the commission, whether it is a flat fee or based on a percentage of the lease value, and how and when the payment will be made. Different types of Indiana Lease Provisions Relating to Brokers may vary depending on the specific lease agreement and the parties involved. However, the above-mentioned provisions are commonly included in lease agreements to address broker-related matters and ensure a fair transaction for all parties involved.
