As a general rule, the standard duration of a rental-tenant non-disclosure contract is between 1 and 5 years, depending on the type of agreement, transaction or market. The purpose of the contract is to prevent the unauthorized disclosure of confidential information (as defined below) on the residential rental property at the address (the «property»). «Confidential information» is proprietary information that relates to the property, including, but not limited to: revenue, taxes, planned capital improvements, the identity or financial status of investors or partners, or any other information transmitted in writing or during a discussion and declared confidential. Without the landlord`s prior written consent, the tenant: (a) will not disclose confidential information to third parties; b) make or authorize copies or other copies of confidential information; or (c) to use confidential information for commercial purposes. At the landlord`s request, the tenant must return within thirty days all original materials relating to confidential information. This agreement and the obligation for the tenant to keep confidential information confidential remain in effect until what happens first: (a) the lessor sends the tenant a written notice making it public under this agreement, or (b) the confidential information disclosed under this contract is no longer confidential. Forest City Ratner has co-objectors in its colonies with tenants who occupy the imprint of the Atlantic Yards, alliances that require beneficiaries to actively promote the project, making it more restrictive than confidentiality agreements in the past. Increasingly, developers are requiring tenants to sign confidentiality agreements for their projects. The new trend is to prevent tenants from speaking publicly about controversial projects. «I`ve never seen anything like it,» Garfinkel admitted. As projects become more competitive, he said, this practice is likely to be more common.
He stressed, however, that both sides are making concessions in the equation – and that it takes two parties to sign a lease. Thor said privacy requirements are necessary because the developer provides information to purchased tenants that he does not want to make public. In the past, landlord-tenant confidentiality agreements were generally limited to situations that prohibit the tenant from disclosing the terms of a buyout or other financial settlement, said Neil Garfinkel, a real estate expert at REBNY. Below is an explanation of the lessor`s non-disclosure agreement. First paragraph Enter your name or business name (owner). Enter the customer`s name. Finally, indicate when the agreement will come into force. This is often the date on which the last party signs the agreement. Second paragraph This paragraph indicates the ownership that is the subject of the transaction between the parties. Enter the address (or addresses if you have more than one property). This paragraph defines what is protected from disclosure.
Please note that you should define this information as confidential when providing documentation. If the information is spoken, you must disclose confidentiality.