Asked by Mr. Tsk Tsk
I would like clarification on agent’s commission for lease renewal. If the notice window for lease renewal has lapsed in the tenancy agreement, does it void the clause in the LOI that requires us pay the tenant’s agent commission? We did not agree to our agent’s service fee for the renewal of lease but unwittingly signed on the LOI that requires us to pay commission to the tenant’s fee for renewal. Are we still bound to pay commission to the tenant’s agent? Considering that none of the agents did any work for the renewal (they did not contact us for lease renewal so we contacted tenant directly to renew, sign and stamp), should they be paid the commission?
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