Bronx New York Leasing Commission Agreement

• Category: Contracts - Commissions
• State: Multi-State
• County: Bronx
• Control #: US-0585BG
• Format: Word; Rich Text

Description

A leasing commission agreement is a contract between a real estate broker and an owner and/or tenant granting the broker the authority to act as the agent for the owner and/or tenant in the leasing of the property. Bronx New York Leasing Commission Agreement is a legally binding document that outlines the terms and conditions between a property owner or landlord and a real estate broker or agent in Bronx, New York, for the purpose of procuring a tenant and completing a leasing transaction. This agreement serves as a written contract to define the rights, obligations, and compensation of the parties involved. Keywords: Bronx New York, leasing commission agreement, property owner, landlord, real estate broker, agent, tenant, leasing transaction, rights, obligations, compensation, written contract. There are various types of Bronx New York Leasing Commission Agreements, such as: 1. Exclusive Right to Lease Agreement: This type of agreement grants the real estate broker or agent exclusive rights to find a tenant for the property within a specific timeframe. During this period, the owner cannot work with any other broker or conduct their leasing efforts independently. 2. Non-Exclusive Right to Lease Agreement: In this type of agreement, the owner can work with multiple brokers or carry out leasing activities themselves. The broker, in turn, is not entitled to exclusivity and is only entitled to a commission if they are the procuring cause and successfully lease the property. 3. Percentage Fee Commission Agreement: This agreement stipulates that the real estate broker or agent receives a commission based on a percentage of the total lease value. The commission can vary but is typically around 4-6% of the annual rent. 4. Fixed Fee Commission Agreement: In this type of agreement, a fixed dollar amount is predetermined as the commission fee for the real estate broker or agent. This fee remains constant regardless of the lease value or rental amount. 5. Renewal Commission Agreement: A renewal commission agreement applies when the original tenant renews their lease for an additional term. It entitles the broker or agent to receive a commission for the lease extension. Regardless of the type of Bronx New York Leasing Commission Agreement, it is crucial for both parties to clearly establish the commission structure, lease duration, rent amounts, termination clauses, and any other additional terms or conditions that may apply. It is highly recommended consulting legal professionals or real estate experts to ensure the agreement adequately protects the interests of all parties involved and complies with the relevant laws and regulations.

Bronx New York Leasing Commission Agreement is a legally binding document that outlines the terms and conditions between a property owner or landlord and a real estate broker or agent in Bronx, New York, for the purpose of procuring a tenant and completing a leasing transaction. This agreement serves as a written contract to define the rights, obligations, and compensation of the parties involved. Keywords: Bronx New York, leasing commission agreement, property owner, landlord, real estate broker, agent, tenant, leasing transaction, rights, obligations, compensation, written contract. There are various types of Bronx New York Leasing Commission Agreements, such as: 1. Exclusive Right to Lease Agreement: This type of agreement grants the real estate broker or agent exclusive rights to find a tenant for the property within a specific timeframe. During this period, the owner cannot work with any other broker or conduct their leasing efforts independently. 2. Non-Exclusive Right to Lease Agreement: In this type of agreement, the owner can work with multiple brokers or carry out leasing activities themselves. The broker, in turn, is not entitled to exclusivity and is only entitled to a commission if they are the procuring cause and successfully lease the property. 3. Percentage Fee Commission Agreement: This agreement stipulates that the real estate broker or agent receives a commission based on a percentage of the total lease value. The commission can vary but is typically around 4-6% of the annual rent. 4. Fixed Fee Commission Agreement: In this type of agreement, a fixed dollar amount is predetermined as the commission fee for the real estate broker or agent. This fee remains constant regardless of the lease value or rental amount. 5. Renewal Commission Agreement: A renewal commission agreement applies when the original tenant renews their lease for an additional term. It entitles the broker or agent to receive a commission for the lease extension. Regardless of the type of Bronx New York Leasing Commission Agreement, it is crucial for both parties to clearly establish the commission structure, lease duration, rent amounts, termination clauses, and any other additional terms or conditions that may apply. It is highly recommended consulting legal professionals or real estate experts to ensure the agreement adequately protects the interests of all parties involved and complies with the relevant laws and regulations.