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.
Queens New York Lease Provisions Relating to Brokers play a vital role in ensuring a fair and transparent transaction between landlords, tenants, and real estate brokers in the borough of Queens, New York. These provisions outline the rights, responsibilities, and obligations of all parties involved in the leasing process. By understanding these provisions, both landlords and tenants can navigate the leasing process effectively. Here are some key aspects of Queens New York Lease Provisions Relating to Brokers: 1. Brokerage Fees: One type of lease provision relating to brokers involves the payment of brokerage fees. In Queens, it is common for tenants to bear the responsibility of paying broker commissions, typically equal to one month's rent. This provision ensures that brokers receive compensation for their services in helping tenants find suitable rental properties. 2. Exclusivity: Another important provision is exclusivity, which grants the broker the exclusive right to represent the landlord or tenant during the leasing process. This ensures that the broker's efforts in finding a suitable property or tenant are recognized and protected. 3. Term and Termination: Lease provisions related to brokers also address the duration of the broker-client agreement and conditions under which it can be terminated. This provision outlines the notice period required to terminate the broker's representation and any associated penalties or fees. 4. Performance Expectations: The lease provisions may detail the broker's obligations towards the client, including the level of service expected, such as property showings, market research, and negotiation on behalf of the client. These provisions ensure that brokers fulfill their professional duties and meet the client's expectations. 5. Disclosure Requirements: In Queens, brokers are required to disclose their brokerage relationship to both landlords and tenants. This includes disclosing any conflicts of interest that may arise during the leasing process. Such provisions ensure transparency and build trust between the parties involved. 6. Alterations and Modifications: Some lease provisions relate to the broker's authority to make alterations or modifications to the lease agreement on behalf of the client. This provision may require written consent from the client before the broker can negotiate changes to the lease terms. 7. Indemnification: Lease provisions may include language regarding indemnification, which holds the broker harmless from any claims, lawsuits, or liabilities arising from the lease transaction. This protects brokers from legal consequences resulting from their actions in representing the client. It is crucial for both landlords and tenants in Queens, New York, to review and understand these lease provisions relating to brokers before entering into any agreements. By doing so, the leasing process becomes more efficient, transparent, and mutually beneficial for all parties involved.Queens New York Lease Provisions Relating to Brokers play a vital role in ensuring a fair and transparent transaction between landlords, tenants, and real estate brokers in the borough of Queens, New York. These provisions outline the rights, responsibilities, and obligations of all parties involved in the leasing process. By understanding these provisions, both landlords and tenants can navigate the leasing process effectively. Here are some key aspects of Queens New York Lease Provisions Relating to Brokers: 1. Brokerage Fees: One type of lease provision relating to brokers involves the payment of brokerage fees. In Queens, it is common for tenants to bear the responsibility of paying broker commissions, typically equal to one month's rent. This provision ensures that brokers receive compensation for their services in helping tenants find suitable rental properties. 2. Exclusivity: Another important provision is exclusivity, which grants the broker the exclusive right to represent the landlord or tenant during the leasing process. This ensures that the broker's efforts in finding a suitable property or tenant are recognized and protected. 3. Term and Termination: Lease provisions related to brokers also address the duration of the broker-client agreement and conditions under which it can be terminated. This provision outlines the notice period required to terminate the broker's representation and any associated penalties or fees. 4. Performance Expectations: The lease provisions may detail the broker's obligations towards the client, including the level of service expected, such as property showings, market research, and negotiation on behalf of the client. These provisions ensure that brokers fulfill their professional duties and meet the client's expectations. 5. Disclosure Requirements: In Queens, brokers are required to disclose their brokerage relationship to both landlords and tenants. This includes disclosing any conflicts of interest that may arise during the leasing process. Such provisions ensure transparency and build trust between the parties involved. 6. Alterations and Modifications: Some lease provisions relate to the broker's authority to make alterations or modifications to the lease agreement on behalf of the client. This provision may require written consent from the client before the broker can negotiate changes to the lease terms. 7. Indemnification: Lease provisions may include language regarding indemnification, which holds the broker harmless from any claims, lawsuits, or liabilities arising from the lease transaction. This protects brokers from legal consequences resulting from their actions in representing the client. It is crucial for both landlords and tenants in Queens, New York, to review and understand these lease provisions relating to brokers before entering into any agreements. By doing so, the leasing process becomes more efficient, transparent, and mutually beneficial for all parties involved.
