Marketing and Leasing Clause Samples
The Marketing and Leasing clause outlines the responsibilities and procedures related to promoting and renting out a property. Typically, it specifies which party is in charge of advertising the premises, screening potential tenants, and executing lease agreements, as well as any required approvals or standards for marketing materials. This clause ensures that there is a clear process for attracting and securing tenants, thereby minimizing vacancies and protecting the interests of both property owners and managers.
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Marketing and Leasing. The Developer shall be solely responsible for the marketing and leasing of all of the apartment units included in the Project, which marketing and leasing shall be undertaken by the Developer, which may necessitate the need for real estate brokers, agents and related professionals. The Developer shall prepare a marketing plan based upon the proposed rental rates of each of the apartment units as determined by the Developer consistent with the Developer’s vision, assessment of the market and achievable price points (the “Marketing Plan”). The Marketing Plan shall also be consistent with the CRA policies and strategies. The costs and expenses incurred in preparing and implementing the Marketing Plan shall be the Developer’s sole responsibility and is a Project expense. As may be necessary in order to facilitate the leasing of the apartment units either prior to or during construction, the CRA shall reasonably cooperate with the Developer in connection with the Developer’s implementation of the Marketing Plan. Without limiting the foregoing, with respect to the leasing of the apartment units, the Developer acknowledges and agrees that this Project is intended to provide new housing opportunities for City residents. Accordingly, the Developer will drive the marketing and leasing of the apartment units to ensure that City residents have ample opportunity to benefit from this Project. To that end, the Developer will utilize coincident with the Marketing Plan an agency providing affordable housing services to identify potential tenants for this Project.
Marketing and Leasing. Subject to Owner's direction and prior approval, Manager shall retain broker(s) to market and lease space in the Property. Manager shall negotiate leases, subject to Owner’s approved leasing guidelines, rates and assumptions, and further subject to Owner’s final approval of all leases. Owner is required to execute all leases. Unless otherwise agreed to by Owner, Manager shall not act as a broker to conduct the above and shall not be paid any fees or commissions except as specified in Section 4.3.
Marketing and Leasing. Manager shall perform the following services in connection with the marketing and leasing of the Property:
(i) Advertise (or cause to be advertised) for rent or lease, those parts of the Property available for rent, subject to Owner’s prior approval of the form, content, time and placement location of each advertisement.
(ii) Solicit, negotiate, and cause to be prepared new leases of space in the Property as well as renewals or extensions of leases (“Space Leases”) in accordance with the following requirements:
(1) Manager shall use its best efforts to ensure that the Space Leases contain rental rates that are at the highest possible rental rate consistent with the then current general state of the commercial real estate market in the area in which the Property is located.
(2) Unless otherwise approved in accordance with this Agreement, all Space Leases (A) shall be on Owner’s standard form of lease/rental agreement as prescribed by Owner from time to time (the “Standard Lease Forms”); (B) shall be in conformity with the then current Standard Business and Lease Terms; and (C) shall comply with the “Referral Source Lease Requirements” (as defined below) if the Space Lease is to a physician tenant or other referral source. “Referral Source Lease Requirements” shall mean the requirements that all leases to physician tenants or other referral sources must be in writing, and shall provide for rental payments that are not less than the fair market rental value of the premises leased, provide for a lease term not less than one year, cover no more space than is reasonably necessary for the legitimate business use and purposes of the tenant, provide for a pass through of a prorata share of operating expenses and shall otherwise be on commercially reasonable terms.
Marketing and Leasing. Management The Administrative Member shall be responsible for preparing a marketing plan for the Project and negotiating leases for the Project with the assistance of, and in coordination with, the other Member. The marketing plan shall be submitted by the Administrative Member to the Executive Committee (as part of the annual business plan for the Company's first Business Plan Period) for its review and approval, which approval shall not be unreasonably withheld, delayed or conditioned. Each marketing plan that is approved by the Executive Committee is hereinafter referred to as the "Marketing Plan." The Marketing Plan shall describe in reasonable detail (i) the types of proposed users and buyers for the Project, (ii) the marketing, leasing and sales objectives and a timeline for accomplishing such objectives, and (iii) such other information regarding the marketing of the Project as is reasonably requested by the Executive Committee. The Administrative Member shall be responsible for implementing each Marketing Plan on behalf of the Company (provided the Company shall pay all third-party out-of-pocket costs and expenses incurred in connection with the implementation of each such Marketing Plan). The Marketing Plan shall be updated by the Administrative Member on a quarterly basis and submitted to the Executive Committee for its review and approval, which approval shall not be unreasonably withheld, delayed or conditioned. Notwithstanding the foregoing, if the Project is fully leased, then the Administrative Member shall not be required to update the Marketing Plan prior to the date that is one (1) year prior to the expiration of the earliest of such leases to expire (unless otherwise requested to do so by the other Member).
Marketing and Leasing. The Developer shall be solely responsible for the marketing, leasing, and/or sale of all Units and the Commercial Component included in the Project. The CRA shall have the right to review and comment on a marketing plan of each of the Units and for the commercial space (the "Marketing Plan").