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.
Pennsylvania Lease Provisions Relating to Brokers: A Comprehensive Overview In Pennsylvania, there are various lease provisions specifically designed to regulate the role and responsibilities of brokers involved in commercial or residential lease agreements. These provisions aim to ensure transparency, fairness, and legal compliance in real estate transactions. Here, we will explore the different types of Pennsylvania lease provisions relating to brokers, highlighting their key aspects and relevant keywords. 1. Brokerage Relationships: One key type of lease provision in Pennsylvania is the specification of brokerage relationships. These provisions define the relationship between the broker and the landlord or tenant. Relevant keywords for this provision include "brokerage relationship," "representation agreement," "listing agreement," "buyer/tenant agency agreement," and "duties and obligations." These provisions outline the broker's duties, the client's rights, fiduciary responsibilities, and potential conflicts of interest. 2. Commission Rates and Payment: Pennsylvania lease provisions also cover commission rates and payment terms for brokers. These provisions establish the agreed-upon commission percentage or flat fee to be paid to the broker upon lease execution or completion. Keywords related to this provision include "broker commissions," "compensation," "fees," "payment terms," and "billing." 3. Exclusivity and Non-Compete Clauses: Certain lease provisions in Pennsylvania may address exclusivity and non-compete clauses applicable to brokers. These provisions protect brokers' rights to be the sole representative for a property or location, preventing any competition or solicitation from other brokers. Relevant keywords for this provision include "exclusivity," "non-compete," "exclusive representation," and "confidentiality." 4. Disclosures, Licenses, and Legal Compliance: Pennsylvania lease provisions also focus on ensuring brokers adhere to legal requirements and disclosure obligations. Keywords relevant to this type of provision are "real estate licenses," "legal compliance," "disclosures," "conflicts of interest," "agent representation," and "fair housing." These provisions emphasize the importance of brokers having appropriate licenses, providing accurate property information, disclosing potential conflicts of interest, and complying with fair housing laws and regulations. 5. Indemnification and Liability: Another crucial aspect covered by Pennsylvania lease provisions is the indemnification and liability of brokers. These provisions specify potential liabilities and indemnification procedures in case of disputes or legal actions arising from broker misconduct or negligence. Keywords for this provision include "indemnity," "liability," "errors and omissions insurance," and "risk management." 6. Termination and Renewal Clauses: Lastly, lease provisions relating to brokers in Pennsylvania may touch upon termination and lease renewal clauses pertaining to their role. These provisions address issues like contract duration, renewal options, notice periods, and termination procedures for brokerage agreements. Relevant keywords for this provision are "termination," "renewal," "termination fees," "notices," and "continuations." Note: It is essential to consult legal professionals specializing in Pennsylvania real estate law to get accurate, up-to-date information and ensure compliance with specific lease provisions and regulations.Pennsylvania Lease Provisions Relating to Brokers: A Comprehensive Overview In Pennsylvania, there are various lease provisions specifically designed to regulate the role and responsibilities of brokers involved in commercial or residential lease agreements. These provisions aim to ensure transparency, fairness, and legal compliance in real estate transactions. Here, we will explore the different types of Pennsylvania lease provisions relating to brokers, highlighting their key aspects and relevant keywords. 1. Brokerage Relationships: One key type of lease provision in Pennsylvania is the specification of brokerage relationships. These provisions define the relationship between the broker and the landlord or tenant. Relevant keywords for this provision include "brokerage relationship," "representation agreement," "listing agreement," "buyer/tenant agency agreement," and "duties and obligations." These provisions outline the broker's duties, the client's rights, fiduciary responsibilities, and potential conflicts of interest. 2. Commission Rates and Payment: Pennsylvania lease provisions also cover commission rates and payment terms for brokers. These provisions establish the agreed-upon commission percentage or flat fee to be paid to the broker upon lease execution or completion. Keywords related to this provision include "broker commissions," "compensation," "fees," "payment terms," and "billing." 3. Exclusivity and Non-Compete Clauses: Certain lease provisions in Pennsylvania may address exclusivity and non-compete clauses applicable to brokers. These provisions protect brokers' rights to be the sole representative for a property or location, preventing any competition or solicitation from other brokers. Relevant keywords for this provision include "exclusivity," "non-compete," "exclusive representation," and "confidentiality." 4. Disclosures, Licenses, and Legal Compliance: Pennsylvania lease provisions also focus on ensuring brokers adhere to legal requirements and disclosure obligations. Keywords relevant to this type of provision are "real estate licenses," "legal compliance," "disclosures," "conflicts of interest," "agent representation," and "fair housing." These provisions emphasize the importance of brokers having appropriate licenses, providing accurate property information, disclosing potential conflicts of interest, and complying with fair housing laws and regulations. 5. Indemnification and Liability: Another crucial aspect covered by Pennsylvania lease provisions is the indemnification and liability of brokers. These provisions specify potential liabilities and indemnification procedures in case of disputes or legal actions arising from broker misconduct or negligence. Keywords for this provision include "indemnity," "liability," "errors and omissions insurance," and "risk management." 6. Termination and Renewal Clauses: Lastly, lease provisions relating to brokers in Pennsylvania may touch upon termination and lease renewal clauses pertaining to their role. These provisions address issues like contract duration, renewal options, notice periods, and termination procedures for brokerage agreements. Relevant keywords for this provision are "termination," "renewal," "termination fees," "notices," and "continuations." Note: It is essential to consult legal professionals specializing in Pennsylvania real estate law to get accurate, up-to-date information and ensure compliance with specific lease provisions and regulations.
