Expert: Mike Fortunato - 10/16/2008

Question
Hi, We just purchased a large rental building.  We occupy one half and are
looking for a renter for the other half.  What is the typical length of a rental
agreement to our broker....60 days, three months, etc.

Thank you, Ted

Answer
If you are referring to the length of a lease for your tenant, in commercial real estate, one year is typically a minimum, but 3 or 5 year terms are more common.

If you're asking about the length of a broker listing agreement, 6 months is most common.