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Alex Esquire
Alex Esquire, Attorney at Law
Category: Real Estate Law
Satisfied Customers: 16449
Experience:  Experienced Licensed Attorney / Real Estate Law Mentor
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I signed an Transaction-Brokerage agreement to rent my Townhome.

Customer Question

I signed an Transaction-Brokerage agreement to rent my Townhome. My tenant has extended the lease once and now would like to sign another year long lease. Do I have to continue to pay the broker fee each time he extends or signs another lease?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Alex Esquire replied 1 year ago.
Hello. My name is***** will be happy to answer your question. Does your Transaction-Brokerage Agreement specify that the broker's fees would be due if the tenant renews his/her lease?
Customer: replied 1 year ago.
Yes, but does that continue for ever....or does it pertain to one renewal. If my tenant stays there for 10 years do I have to pay the broker for ten years?
Expert:  Alex Esquire replied 1 year ago.
Thank you for your follow up.Unfortunately, generally, it would apply to any number of renewals, as long as, the same tenant that was procured by the broker continues to renew the rental property subject to the Transaction-Brokerage agreement or unless landlord and broker agree otherwise in writing.I wish you the best of luck!
Expert:  Alex Esquire replied 1 year ago.
Do you have any related follow up questions for me?