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Lease Commission Agreement

Lease Commission Agreement Generator for England and Wales

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Key Requirements PROMPT example:

Lease Commission Agreement

"Need a Lease Commission Agreement for my London-based commercial property portfolio, with multiple agents operating on a non-exclusive basis and tiered commission rates based on lease length and property value."

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Document background
The Lease Commission Agreement serves as a crucial document in property leasing transactions within England and Wales. It is used when property owners wish to engage professional agents to market and secure tenants for their properties. The agreement specifically details commission structures, payment triggers, and service scope, ensuring clarity and legal protection for all parties involved. This contract type is essential for professional estate agency services and must comply with the Estate Agents Act 1979 and related regulations. The agreement typically includes provisions for both successful lease completions and any subsequent renewals or extensions.
Suggested Sections

1. Parties: Identification and details of contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Appointment: Terms of agent appointment and scope of services

5. Commission Structure: Detail of fees, rates and payment terms

6. Payment Terms: Timeline and method of commission payments

7. Obligations of Agent: Agent's duties and responsibilities

8. Obligations of Principal: Principal's duties and responsibilities

9. Term and Termination: Duration and termination provisions

10. Governing Law: Applicable law and jurisdiction

Optional Sections

1. Exclusivity: Exclusive rights provisions, used when agent has sole rights

2. Sub-Agents: Terms for appointing sub-agents when delegation is permitted

3. Insurance: Insurance requirements for high-value properties or complex arrangements

4. Data Protection: Specific data handling provisions when significant personal data processing is involved

Suggested Schedules

1. Schedule 1 - Property Details: Specific details of property/properties covered

2. Schedule 2 - Commission Rates: Detailed breakdown of commission structure

3. Schedule 3 - Services: Detailed scope of services to be provided

4. Appendix A - Required Documentation: List of required documents and forms

5. Appendix B - Marketing Plan: Optional marketing strategy and activities

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Industries

Estate Agents Act 1979: Primary legislation regulating estate agency work, including requirements for disclosure of interests and professional standards and conduct

Consumer Protection from Unfair Trading Regulations 2008: Legislation protecting consumers against unfair practices, requiring transparency in commercial communications and prohibiting misleading actions or omissions

Business Protection from Misleading Marketing Regulations 2008: Regulations governing business-to-business marketing and prevention of misleading advertisements

Financial Services and Markets Act 2000: Legislation relevant when the agreement involves regulated financial activities

Estate Agents (Provision of Information) Regulations 1991: Regulations specifying information that must be provided to clients and terms of business requirements

Money Laundering Regulations 2017: Regulations covering due diligence requirements and record keeping obligations in property transactions

Data Protection Act 2018 and UK GDPR: Legislation governing the handling of personal data and privacy requirements

Contracts (Rights of Third Parties) Act 1999: Legislation governing the rights of third parties under contractual agreements

Law of Property Act 1925: Fundamental legislation establishing core principles of property law in England and Wales

The Limitation Act 1980: Legislation establishing time limits for bringing legal claims related to contracts and property

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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