Tenant Placement (Lease-Up) and Term Modification Sample Clauses

Tenant Placement (Lease-Up) and Term Modification. Owner shall pay a commission equal to 50% of one month’s rental amount for the placement of each new tenant and signing of the lease for which the Manager is the procuring cause, which commission shall be based on the rental amount for the highest month within the tenancy. Such commission shall be paid out of the first rents received by the Tenant and shall in no case be less than $350.00 regardless of the rental amount. Owner shall pay Manager a Modification of Terms commission in the amount of $200.00 upon each term review/renewal or rent increase with any and all existing or added tenants. In the event that the property is occupied upon commencement of this agreement, Owner agrees to pay a commission in the amount of$350 per unit to Manager out of the first rents collected by Manager.