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All Forum Posts by: Christine Le

Christine Le has started 4 posts and replied 4 times.

I have a commercial property that I found a tenant for. I hired a broker to help me process the application and prepare a lease. In the lease, the broker listed themselves as broker for both myself and the tenant (dual agency). Is this correct? I assumed the broker would only be representing me, not the tenant. I'm not comfortable with them representing both of us.

I was told that on a NNN lease, brokers should take a commission of X% of base rent (price per SF x SF) - not total rent (which includes NNN). That makes sense to me as NNN is just expenses that are passed onto the tenant. True?

Hi, I have found a tenant for my commercial condo unit who is a friend of the family. I need to hire a broker to process the application (with supporting information), counsel me on useful amendments to the AIR form lease and get the lease signed. Tenant has already agreed on price. How much is a reasonable amount to pay a broker for these services? Thanks! 

I own a commercial condo unit (medical/office) under an LLC. My new tenants will have a liability/fire insurance policy and will name me as an additional insured. I currently have a policy as well. Is my policy redundant? Should I keep it or cancel it?