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.
District of Columbia Lease Provisions Relating to Brokers encompass specific clauses and regulations implemented within lease agreements for properties in the District of Columbia, United States. These provisions outline the rights, responsibilities, and protections for both landlords and brokers involved in negotiating and facilitating commercial and residential leases. Here is a closer look at the various types of District of Columbia Lease Provisions Relating to Brokers: 1. Brokerage Agreement: The brokerage agreement provision establishes the legal relationship between the property owner/landlord and the broker. It defines the scope of the broker's services, including their authority to negotiate and finalize lease agreements on behalf of the landlord. 2. Exclusive Agency: In some cases, the lease agreement may include an exclusive agency provision, which grants exclusive rights to a single broker to market and negotiate the lease of a particular property. This provision restricts the landlord from working with other brokers during the lease term. 3. Commission and Compensation: The commission and compensation provisions outline the broker's entitlement to a commission upon the successful completion of a lease agreement. It specifies the percentage or a fixed amount the broker will receive as compensation for their services and indicates how and when the payment will be made. 4. Termination Terms: District of Columbia Lease Provisions Relating to Brokers may include termination terms regarding the broker's representation. These terms define when and how the broker's authority or agency relationship with the landlord is terminated, often establishing a notice period or specific circumstances that trigger termination. 5. Broker's Duties and Responsibilities: These provisions highlight the broker's obligations and responsibilities during the lease negotiation process. They may include requirements for the broker to present all offers to the landlord promptly, disclose material information, conduct due diligence, and act in the landlord's best interests. 6. Indemnification and Liability: Indemnification and liability clauses specify the extent of the broker's liability and indemnification for any claims, damages, or losses arising from their actions or omissions during the leasing process. These provisions are crucial in protecting the landlord from potential legal disputes or financial repercussions. 7. Non-Discrimination: Lease agreements often include non-discrimination clauses, ensuring that brokers adhere to fair housing laws and do not engage in discriminatory practices based on race, color, religion, sex, national origin, familial status, or disability. Brokers are expected to comply with all applicable state and federal fair housing regulations. 8. Compliance with Laws: This provision mandates that brokers comply with all District of Columbia laws and regulations concerning real estate brokerage activities, licensing requirements, and conduct. It holds brokers accountable for following ethical standards and professional practices. 9. Confidentiality: Certain lease agreements may include confidentiality provisions that protect sensitive information shared between the landlord and the broker during the lease negotiation process. It restricts the broker from disclosing confidential information to third parties without the landlord's consent. 10. Dispute Resolution: Lastly, the lease provisions may outline procedures and mechanisms for dispute resolution, such as mediation or arbitration, in the event of conflicts arising between the landlord and the broker. These provisions ensure that disputes are resolved efficiently and fairly. In conclusion, District of Columbia Lease Provisions Relating to Brokers encompass a range of clauses and regulations that govern the relationship between landlords and brokers in lease negotiations. By including these provisions, both parties can ensure a transparent, legally compliant, and mutually beneficial leasing process.
