Whether you’re a tenant or landlord, you will find that a real estate broker is a great resource when it comes to identifying the obligations of each of the parties involved in a residential lease.
ARE YOU A TENANT?
A real estate broker can accompany tenants in their search for properties to rent. A broker is able to identify properties that meet their clients’ needs and can guide them in filling in the Promise to Lease. A broker can also provide clarifications to tenants who want to settle in an apartment or condo located in a divided condominium building by informing them of the regulations regarding common areas, for example.
ARE YOU A LANDLORD?
Landlords always want to rent their properties to trustworthy people. A real estate broker can help non-occupant owners find tenants for their apartment, home or condominium. In addition to coordinating visits for the landlord, a broker can help provide visibility for the property to be rented, obtain the tenant’s consent to verify their payment habits, and fill in the Promise to Lease with the future tenant.
In both of these cases, a broker should draw up an Exclusive Brokerage Contract – Residential Lease. Even in rental situations, brokers are still subject to the regulations contained in the Real Estate Brokerage Act and must fulfill their duty to verify the information they publish. Brokers must also be familiar with the Act Respecting the Régie du logement. This knowledge enables them to be helpful to both landlords and tenants.