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.
Harris Texas Lease Provisions Relating to Brokers are essential clauses within a lease agreement that specifically address the roles, responsibilities, and obligations of brokers involved in the lease transaction. These provisions are designed to protect the interests of all parties involved, including the landlord, tenant, and the brokers themselves. Here are some key points and types of Harris Texas Lease Provisions Relating to Brokers that one should consider: 1. Brokerage Commission: This provision outlines the commission structure and payment terms agreed upon between the landlord and the broker. It specifies the amount or percentage of the lease value that the broker will receive upon a successful lease agreement. 2. Exclusive Representation: In this provision, the lease agreement can grant exclusive representation rights to a particular broker or brokerage firm, limiting the ability of other brokers to participate in the leasing process. This protects the efforts and investment made by the exclusive broker. 3. Dual Agency Disclosure: If a broker represents both the landlord and the tenant, this provision requires a clear disclosure of the dual agency relationship to all parties involved. It ensures transparency and informs the landlord and tenant of any potential conflicts of interest. 4. Broker Performance: This provision sets standards and expectations for the broker's performance throughout the leasing process. It may outline specific milestones, such as submitting lease proposals within a certain timeframe, providing accurate property information, or conducting property showings professionally. 5. Indemnification of Brokers: This provision protects brokers from any liabilities arising from their actions or representations made during the leasing process. It ensures that the broker will not be held responsible for any damages, claims, or litigation costs resulting from their services unless there is gross negligence or intentional misconduct. 6. Brokerage Relationship Termination: This provision outlines the conditions and procedures for terminating the brokerage relationship. It may include reasons for termination, notice requirements, and any potential financial obligations following termination, such as outstanding commission payments. 7. Broker's Representations and Warranties: This provision addresses the accuracy and reliability of the information provided by the broker. It ensures that the broker has made no false representations about the property, its condition, or any other relevant factors that could impact the leasing decision. 8. Confidentiality: This provision emphasizes the confidential nature of the leasing transaction and prohibits brokers from disclosing sensitive information, such as financial details or lease negotiations, to unauthorized parties. It protects the privacy and integrity of the leasing process. In conclusion, Harris Texas Lease Provisions Relating to Brokers encompass several important clauses that regulate the involvement and responsibilities of brokers in lease agreements. By understanding and incorporating these provisions into the lease agreement, all parties can ensure a smooth and transparent leasing process while safeguarding their rights and interests.
