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Commercial Lease Commission Agreement
"I need a Commercial Lease Commission Agreement for my office building in Kuala Lumpur, establishing an exclusive 12-month arrangement with a 3% commission rate, starting from January 2025."
1. Parties: Identification of the property owner/landlord and the real estate agent/agency, including full legal names, registration numbers, and addresses
2. Background: Context of the agreement, including property details and the owner's intention to lease the property through the agent
3. Definitions: Key terms used throughout the agreement, including 'Commission', 'Lease', 'Property', 'Tenant', and 'Term'
4. Appointment and Authority: Formal appointment of the agent and scope of authority granted by the property owner
5. Agent's Services and Obligations: Detailed description of services to be provided by the agent, including marketing, showing property, and lease negotiation
6. Commission Structure: Details of commission rates, calculation methods, and payment terms
7. Payment Terms: Timing and method of commission payments, including any staging or installment arrangements
8. Property Owner's Obligations: Responsibilities of the property owner, including providing accurate information and necessary documentation
9. Term and Termination: Duration of the agreement and circumstances under which it can be terminated
10. Confidentiality: Provisions regarding handling of confidential information and property details
11. Governing Law: Specification of Malaysian law as governing law and jurisdiction
12. Execution: Signature blocks and execution requirements
1. Exclusivity: Terms establishing whether the appointment is exclusive or non-exclusive, used when specific agency arrangements are required
2. Sub-Agents: Provisions regarding the appointment and management of sub-agents, included when sub-agents may be involved
3. Marketing Budget: Details of marketing expenditure and cost responsibilities, included when specific marketing arrangements are agreed
4. Performance Targets: Specific performance metrics for the agent, included when performance-based terms are required
5. Insurance Requirements: Specific insurance obligations for either party, included when additional coverage is required
6. Dispute Resolution: Detailed dispute resolution procedures, included when specific resolution mechanisms are preferred
7. Force Majeure: Provisions for unforeseen circumstances, included when specific risk allocation is needed
1. Schedule 1 - Property Details: Detailed description of the property, including address, lot number, and specific features
2. Schedule 2 - Commission Rates: Detailed breakdown of commission rates for different lease scenarios
3. Schedule 3 - Marketing Plan: Specific marketing activities and timeline proposed by the agent
4. Schedule 4 - Required Documentation: List of documents required from both parties for the lease process
5. Appendix A - Agent's License: Copy of the agent's current registration/license with the Board of Valuers, Appraisers and Estate Agents
6. Appendix B - Property Title: Copy of the property title or relevant ownership documentation
Authors
Real Estate
Commercial Property
Retail
Office Space
Industrial Property
Professional Services
Property Management
Commercial Leasing
Legal
Real Estate
Property Management
Commercial Operations
Business Development
Asset Management
Facilities Management
Contract Administration
Finance
Real Estate Agent
Property Manager
Commercial Property Manager
Leasing Manager
Property Owner
Legal Counsel
Contract Manager
Business Development Manager
Asset Manager
Facilities Manager
Commercial Director
Real Estate Director
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