Broker Lease Agreement Template for India

The Broker Lease Agreement is essential for formalizing the relationship between property owners and real estate brokers in India's property market. This document is typically used when a property owner wishes to engage a professional broker to find suitable tenants for their property. It clearly defines the scope of the broker's services, commission structure, and obligations while ensuring compliance with the Real Estate (Regulation and Development) Act, 2016 (RERA) and state-specific real estate regulations. The agreement protects both parties' interests by clearly outlining the terms of engagement, payment conditions, and service expectations. It's particularly important in commercial and residential leasing transactions where professional representation is required to navigate the market effectively.

1. Parties: Identifies all parties to the agreement including the property owner and the broker with their complete details as required under RERA

2. Background: Explains the context of the agreement, including the owner's intention to lease the property and the broker's qualifications

3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Commission', 'Lease Term', and 'Successful Transaction'

4. Appointment and Scope of Services: Details the appointment of the broker and specific services to be provided

5. Term of Agreement: Specifies the duration of the broker's appointment and any renewal terms

6. Broker's Rights and Obligations: Lists the broker's responsibilities, including marketing efforts, showing property, and negotiation duties

7. Owner's Rights and Obligations: Outlines the property owner's responsibilities and commitments

8. Commission Structure: Details the commission rate, calculation method, and payment terms

9. Payment Terms: Specifies when and how the commission will be paid

10. Representations and Warranties: Contains statements of fact and promises by both parties

11. Confidentiality: Addresses the handling of confidential information

12. Termination: Specifies conditions and process for ending the agreement

13. Governing Law and Jurisdiction: Establishes applicable law and courts for dispute resolution

14. Notices: Details how formal communications between parties should be made

15. General Provisions: Includes standard clauses like severability, entire agreement, and amendments