My clients have signed the tenant representation agreement and are preparing to submit an application on a rental property we viewed this weekend. I have been coordinating directly with the listing agent and guiding the clients through the application process.
I had a few questions I wanted to confirm with you:Should I wait until the application is accepted before submitting the tenant representation agreement and related documents through our brokerage case processing system, or should I submit those now that representation has been established?
On www.nat22.com, go to case processing sheets and submit the tenant rep form once you get it signed.
Once the application is accepted, submit in case processing sheets.
What is the proper process for ensuring tenant broker compensation is paid by the listing side/landlord rather than the tenant? I understand this is commonly requested through the rental application or lease process, but I want to make sure I am handling this correctly and documenting it properly.
In the rental application under “offer to rent” it asks for the monthly rent and under that it states: Landlord shall pay to tenant Brokerage 25%
Are there any additional forms, disclosures, or brokerage-specific steps I should complete during the rental application stage?
When the lease is signed, submit in case processing sheets and it’s time to get your commission.