Common use of Leasing Fee Clause in Contracts

Leasing Fee. Upon a tenant’s execution of a new lease on said property, Owner agrees to pay to Broker a commission equal to one month’s gross income or a minimum of $1,500, whichever is greater, for services rendered and authorizes Broker to deduct said sum from the first month’s rent received from the tenant unless otherwise agreed between Owner and Broker. Gross income includes rent, utility income paid by a tenant to Broker, pet rent, parking fees, storage fees, or any other additional recurring charge or fee that the tenant pays to Broker pursuant to the lease.