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.
Travis Texas Lease Provisions Relating to Brokers are contractual clauses that outline the specific rights, obligations, and limitations of brokers involved in a lease agreement within Travis County, Texas. These provisions address various aspects of the broker's role and responsibilities as intermediaries between the landlord and tenant. Understanding these provisions is crucial for both brokers and parties involved in lease transactions to ensure legal compliance and clarify expectations. In Travis County, there are several types of lease provisions commonly included in agreements involving brokers, including: 1. Brokerage Representation: This provision defines the nature and extent of a broker's representation, whether they are acting as a tenant's broker, landlord's broker, or dual agent. It outlines the broker's fiduciary duties to their client and sets forth the broker's responsibilities in negotiating, securing, and executing a lease agreement. 2. Exclusive Representation: This provision establishes the exclusivity of the broker's representation, preventing the landlord or tenant from engaging additional brokers for the same transaction. It clarifies the broker's entitlement to the agreed-upon commission and specifies the conditions under which the exclusivity may be terminated. 3. Commission and Fees: This provision outlines the broker's compensation arrangements, detailing the amount, timing, and method of commission payment. It may specify whether the commission is to be paid solely by the landlord, tenant, or split between both parties. 4. Confidentiality and Non-Disclosure: This provision requires brokers to maintain the confidentiality of sensitive information disclosed during the lease negotiation process. It restricts brokers from disclosing any confidential information to other parties without the written consent of their client. 5. Indemnification: This provision addresses the broker's liability and indemnification obligations. It outlines the extent to which the broker may be held responsible for any claims, damages, or liabilities arising from their actions or representations during the lease transaction. 6. Dispute Resolution: This provision outlines the mechanism for resolving any disputes or disagreements that may arise between the broker and their client. It may require the parties to engage in mediation or arbitration before pursuing litigation. These Travis Texas Lease Provisions Relating to Brokers are designed to protect both parties involved in lease transactions and promote fair and transparent negotiations. It is crucial for brokers and clients to thoroughly review and understand these provisions before engaging in any lease agreement to ensure compliance with local regulations and avoid potential conflicts.
