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Broker Lease Agreement
"I need a Broker Lease Agreement for my portfolio of five commercial properties in Lahore and Karachi, granting exclusive rights to a national brokerage firm from January 2025, with provisions for sub-agents and a detailed marketing budget."
1. Parties: Identifies the property owner/lessor and the broker, including their full legal names, addresses, and any registration/license numbers
2. Background: Explains the context of the agreement, including the owner's desire to lease the property and engage the broker's services
3. Definitions: Defines key terms used throughout the agreement, including Property, Services, Commission, Lease Period, etc.
4. Appointment and Authority: Formally appoints the broker and outlines the scope of authority granted by the owner
5. Broker's Services and Obligations: Details the specific services to be provided by the broker, including marketing, showing property, tenant screening, etc.
6. Owner's Obligations: Specifies the owner's responsibilities, including providing necessary information and access to the property
7. Commission Structure: Details the broker's compensation, including commission rates, payment timing, and any additional fees
8. Term and Termination: Specifies the duration of the agreement and conditions for termination by either party
9. Representations and Warranties: Contains statements of fact and promises made by both parties
10. Liability and Indemnification: Addresses risk allocation between parties and indemnification obligations
11. Confidentiality: Outlines obligations regarding confidential information
12. Governing Law and Jurisdiction: Specifies Pakistani law as governing law and defines jurisdiction for dispute resolution
13. Notices: Specifies how formal communications between parties should be made and delivered
14. Entire Agreement: Confirms the agreement represents the complete understanding between parties
15. Execution: Signature blocks and execution formalities
1. Sub-Agents: Include when the broker may need to appoint sub-agents or collaborate with other brokers
2. Property Management Services: Include when the broker will provide ongoing property management services beyond securing tenants
3. Marketing Budget: Include when specific marketing commitments and budgets need to be defined
4. Exclusive Rights: Include when granting exclusive rights to the broker for the property
5. Insurance Requirements: Include when specific insurance coverage requirements need to be detailed
6. Force Majeure: Include when specific provisions for unforeseen circumstances are needed
7. Digital Marketing Rights: Include when specific provisions for online marketing and digital presence are required
1. Schedule A - Property Details: Detailed description of the property, including address, size, facilities, and any restrictions
2. Schedule B - Commission Schedule: Detailed breakdown of commission structures, including any sliding scales or special circumstances
3. Schedule C - Marketing Plan: Detailed marketing strategy and commitments for the property
4. Schedule D - Required Documentation: List of documents required from potential tenants
5. Schedule E - Property Photos and Floor Plans: Visual documentation of the property
6. Appendix 1 - Broker's License and Credentials: Copies of broker's professional licenses and certifications
7. Appendix 2 - Standard Lease Template: Template of the lease agreement to be used with potential tenants
Authors
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Hospitality
Office Space
Mixed-use Development
Agriculture (for agricultural land leasing)
Warehousing
Legal
Real Estate
Operations
Compliance
Property Management
Business Development
Facilities
Asset Management
Contract Administration
Investment
Real Estate Broker
Property Manager
Leasing Agent
Asset Manager
Property Owner
Legal Counsel
Compliance Officer
Real Estate Director
Operations Manager
Business Development Manager
Contract Administrator
Facilities Manager
Property Portfolio Manager
Real Estate Investment Manager
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