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.
Houston Texas Lease Provisions Relating to Brokers are specific clauses or terms included in lease agreements in the city of Houston that dictate the rights, responsibilities, and obligations of brokers involved in the leasing process. These provisions aim to regulate the relationships between landlords, tenants, and brokers, ensuring fair dealings and protecting the interests of all parties involved. There are various types of Houston Texas Lease Provisions Relating to Brokers, each addressing different aspects of the leasing process. Common types of lease provisions include: 1. Exclusive Representation: This provision states that a specific broker or brokerage firm has exclusive rights to represent either the landlord or the tenant in the leasing transaction. It prevents the property owner or tenant from working with multiple brokers simultaneously. 2. Commission Agreement: This provision outlines the agreed-upon commission structure for the broker's services. It specifies the amount or percentage of the commission, the timing of payment, and any additional fees the broker may be entitled to. 3. Broker's Authority and Duties: These provisions define the scope of the broker's authority and their duties throughout the leasing process. It includes obligations like conducting property showings, marketing the property, negotiating lease terms, and ensuring legal compliance. 4. Tenant/Buyer Representation Agreement: This provision applies when a broker represents a tenant or buyer in lease negotiations. It clarifies the responsibilities of the broker and details the tenant's requirements, such as desired property location, size, lease length, and any specific terms or conditions. 5. Landlord/Seller Representation Agreement: This provision is commonly used when a broker represents a landlord or property owner. It provides instructions for the broker regarding the desired tenant type, rental rates, property condition, tenant screening criteria, and any other necessary details. 6. Termination and Renewal: These provisions determine the circumstances under which the broker's representation will end and detail the procedures for renewal of the lease agreement. It may state conditions for renewal, termination fees, or the creation of an entirely new lease agreement. 7. Confidentiality and Non-Disclosure: This provision establishes the duty of the broker to maintain confidentiality regarding sensitive information shared during the leasing process. It ensures that any trade secrets, financial data, or personal information disclosed by either party are protected from unauthorized access or use. 8. Arbitration or Mediation: Some Houston Texas Lease Provisions Relating to Brokers include clauses specifying alternative dispute resolution methods, such as arbitration or mediation, to resolve any potential disagreements or conflicts between the parties involved. It's essential for both landlords and tenants to carefully review and understand these lease provisions to ensure they align with their interests and protect their rights. Consulting legal professionals or real estate experts familiar with Houston's leasing regulations is highly recommended ensuring compliance with local laws and regulations.Houston Texas Lease Provisions Relating to Brokers are specific clauses or terms included in lease agreements in the city of Houston that dictate the rights, responsibilities, and obligations of brokers involved in the leasing process. These provisions aim to regulate the relationships between landlords, tenants, and brokers, ensuring fair dealings and protecting the interests of all parties involved. There are various types of Houston Texas Lease Provisions Relating to Brokers, each addressing different aspects of the leasing process. Common types of lease provisions include: 1. Exclusive Representation: This provision states that a specific broker or brokerage firm has exclusive rights to represent either the landlord or the tenant in the leasing transaction. It prevents the property owner or tenant from working with multiple brokers simultaneously. 2. Commission Agreement: This provision outlines the agreed-upon commission structure for the broker's services. It specifies the amount or percentage of the commission, the timing of payment, and any additional fees the broker may be entitled to. 3. Broker's Authority and Duties: These provisions define the scope of the broker's authority and their duties throughout the leasing process. It includes obligations like conducting property showings, marketing the property, negotiating lease terms, and ensuring legal compliance. 4. Tenant/Buyer Representation Agreement: This provision applies when a broker represents a tenant or buyer in lease negotiations. It clarifies the responsibilities of the broker and details the tenant's requirements, such as desired property location, size, lease length, and any specific terms or conditions. 5. Landlord/Seller Representation Agreement: This provision is commonly used when a broker represents a landlord or property owner. It provides instructions for the broker regarding the desired tenant type, rental rates, property condition, tenant screening criteria, and any other necessary details. 6. Termination and Renewal: These provisions determine the circumstances under which the broker's representation will end and detail the procedures for renewal of the lease agreement. It may state conditions for renewal, termination fees, or the creation of an entirely new lease agreement. 7. Confidentiality and Non-Disclosure: This provision establishes the duty of the broker to maintain confidentiality regarding sensitive information shared during the leasing process. It ensures that any trade secrets, financial data, or personal information disclosed by either party are protected from unauthorized access or use. 8. Arbitration or Mediation: Some Houston Texas Lease Provisions Relating to Brokers include clauses specifying alternative dispute resolution methods, such as arbitration or mediation, to resolve any potential disagreements or conflicts between the parties involved. It's essential for both landlords and tenants to carefully review and understand these lease provisions to ensure they align with their interests and protect their rights. Consulting legal professionals or real estate experts familiar with Houston's leasing regulations is highly recommended ensuring compliance with local laws and regulations.
