My question involves real estate located in the State of: Ohio
I am looking to sign a rental agreement with Howard Hannah so they can rent my condo during the RNC in Cleveland next year. There is a clause in the contract about Exclusive Right to Rent (below), I wanted it removed but they wont remove it. My main concern is wanting to cancel if they can't find a tenant. I received an email from the broker saying "I don’t have a problem with you canceling the agreement at a later date if you aren’t happy with our service." - will that be sufficient to cancel and cover my bases at a later time? Any 'gotchas' i should be concerned about?
D) EXCLUSIVE RIGHT TO RENT: In consideration of HH’S efforts to locate a Convention Tenant, Client hereby grants to HH the sole and exclusive right to rent the Property from July 1, 2016 through July 31, 2016 (the "Exclusive Period"). Client agrees to refer to HH all brokers or prospects who desire to rent the Property during the period of this Exclusive Agreement. Client agrees that Client will provide and enter into a written lease for the Property with terms acceptable to Client if a Tenant is secured. If the Property is leased during the term hereof at the rental and terms stated, or at such other price and terms as are acceptable to Client, then Client agrees to pay to Howard Hanna a commission equal to twenty percent (20%) of the gross lease amount upon the earlier of either execution of such lease or occupancy. This fee includes property management services identified below in Section K that will be provided during the Convention Term. Client acknowledges and agrees that Client will not sell or convey ownership of the property prior to the expiration of the Convention Term. Client also agrees that once Client has signed a lease for a Convention Tenant for this property for the period of the Convention Management Term, Client will not take any action that will conflict with the Convention TENANT”S rights to the use and occupancy of the property. Client agrees to not list this property for sale or for rent with any other licensed real estate broker for Convention Term.
Thanks in advance
I am looking to sign a rental agreement with Howard Hannah so they can rent my condo during the RNC in Cleveland next year. There is a clause in the contract about Exclusive Right to Rent (below), I wanted it removed but they wont remove it. My main concern is wanting to cancel if they can't find a tenant. I received an email from the broker saying "I don’t have a problem with you canceling the agreement at a later date if you aren’t happy with our service." - will that be sufficient to cancel and cover my bases at a later time? Any 'gotchas' i should be concerned about?
D) EXCLUSIVE RIGHT TO RENT: In consideration of HH’S efforts to locate a Convention Tenant, Client hereby grants to HH the sole and exclusive right to rent the Property from July 1, 2016 through July 31, 2016 (the "Exclusive Period"). Client agrees to refer to HH all brokers or prospects who desire to rent the Property during the period of this Exclusive Agreement. Client agrees that Client will provide and enter into a written lease for the Property with terms acceptable to Client if a Tenant is secured. If the Property is leased during the term hereof at the rental and terms stated, or at such other price and terms as are acceptable to Client, then Client agrees to pay to Howard Hanna a commission equal to twenty percent (20%) of the gross lease amount upon the earlier of either execution of such lease or occupancy. This fee includes property management services identified below in Section K that will be provided during the Convention Term. Client acknowledges and agrees that Client will not sell or convey ownership of the property prior to the expiration of the Convention Term. Client also agrees that once Client has signed a lease for a Convention Tenant for this property for the period of the Convention Management Term, Client will not take any action that will conflict with the Convention TENANT”S rights to the use and occupancy of the property. Client agrees to not list this property for sale or for rent with any other licensed real estate broker for Convention Term.
Thanks in advance
Agents and Brokers: Exclusive Right to Rent Question - Seeking Validation I'm in the Clear
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