Common use of Leasing and Renting Clause in Contracts

Leasing and Renting. Agent shall use all reasonable efforts to keep premises rented by locating tenants for the Premises, however Agent makes NO guarantee that a tenant will be available to rent the Premises. Agent is authorized to negotiate, prepare and execute all leases, including all renewals and extensions of leases and to cancel and modify existing leases. Agent shall execute all leases as Agent for the Owner. All costs of leasing shall be paid out of the Escrow Account. During the term of this Agreement, Owner shall not authorize any other person, firm or corporation to negotiate or act as leasing or rental agent with respect to any leases or space in the Premises. Owner agrees to promptly forward all inquiries about leases to Agent. Owner agrees that if rental unit is rented by owner, anyone associated with the owner or under the direction of the owner, during the period of this Agreement, all Management fees will be paid to Agent, according to the terms of this contract, the same as if Agent leased the premises. Agent will make all decisions as to the rental amount, fees and deposits. Agent is authorized to establish and change or revise all rents, fees or deposits and any other charges with respect to the Premises. Owner understands that the Agent determines rental amounts in a competitive manner and consistent with other similar properties based on Real Estate comparables. Owner understands that Agent will strive to rent the premises for the maximum rent possible, as Agent’s Management Fee is based on the rental amount. Owner and Agent agree to follow all Federal and Local Fair Housing Laws. If Owner should at any time request Agent to disregard Fair Housing Laws and/or Landlord-Tenant Laws, this contract will be terminated immediately and the management fees for the balance of this contract or $500., whichever is greater, will be due immediately.