Brokerage Contract: Exclusive Right to Lease Listing Contract (Commercial Lease)
About this template
The Brokerage Contract: Exclusive Right to Lease Listing Contract (Commercial Lease) under USA law is a legal template that outlines an agreement between a brokerage firm and a client for leasing commercial property. This contract establishes the exclusive right of the brokerage firm to represent the client in finding and securing tenants for the listed property. It details the terms and conditions under which the brokerage firm has the sole authority to handle the leasing process, ensuring that the client will seek no other agents or engage in self-marketing during the contract's duration.
The template outlines the property details, such as location, size, and specifications, as well as the agreed-upon rental terms, lease duration, and any specific requirements or restrictions. It may include provisions regarding commission and payment structure, outlining the compensation the brokerage firm will receive upon successfully securing a suitable tenant.
Furthermore, the template may address various responsibilities and obligations of both parties, such as the brokerage firm's duty to conduct comprehensive marketing and advertising campaigns for the property, as well as the client's responsibility to maintain the property in a condition suitable for lease. It may also specify the timeframe within which the brokerage firm must find a tenant and the consequences of failure to meet this deadline.
Additionally, this document could include provisions related to termination or renewal of the contract. It may outline the conditions under which either party can terminate the agreement before its designated end date, as well as the procedures for renewing the contract should both parties wish to extend the exclusive right to lease listing arrangement.
Overall, this legal template ensures that the brokerage firm has exclusive rights and responsibilities in representing the client for leasing the listed commercial property, safeguarding the interests of both parties and providing a clear framework for the leasing process under USA law.