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.
New York Lease Provisions Relating to Brokers
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FAQ
NYC broker fees typically cost between one month of rent, or around 8.5% up to 15% of the annual rent. While state regulators have previously tried to ban or cap these fees in the past, they are still legal in 2022 and seem to be here to stay.
Tenants in New York cannot be denied based on past legal conflicts with a landlord (for example, if they have previously sued a landlord). Landlords in New York are also not allowed to charge any additional fees for the processing, review, or acceptance of an application.
Typically, a commission is only for trading and the fee covers administrative tasks before and after the trade, order routing and trade settlement. The fee can be variable or fixed, while a brokerage fee can be for trading or non-trading purposes and may be fixed or variable.
5 Things You Should Never Say When Renting an Apartment 'I hate my current landlord' Every potential landlord is going to ask why you're moving. ... 'Let me ask you one more question' ... 'I can't wait to get a puppy' ... 'My partner works right up the street' ... 'I move all the time'
What are the responsibilities of my landlord? Owners must ensure that buildings are safe, clean and well maintained, in both common areas and in individual apartments. Among other responsibilities, owners must provide and maintain security measures, heat, hot and cold water, and good lighting.
Renewal commissions commonly would be calculated as if the extension period were included in the initial term of the lease. For example, the parties may agree on brokerage commissions of 7% of base rent for years 1-3 and 3% thereafter.
Under New York's rent-regulation laws, harassment is defined as conduct by a landlord that directly or indirectly interferes with, or is intended to interfere with, your privacy, comfort, and enjoyment of your dwelling.
Likewise, landlords may have the right to deduct damages from the security deposit, enter the rental property in emergency situations, and more. Some cities, such as New York City, have their own specific laws and regulations, so it's important that landlords check their local regulations.
