Rental of real estate (tenant, landlord, seller, buyer) I am a landlord

I am a landlord

 

One of the possible options for a contract in this case is a contract for the management and letting of a real estate, with the parties: the contracting authority (I, the lender) and the manager (broker / person representing the real estate agency). With him, the manager is obliged to manage the property for remuneration on my behalf and at my expense.

 

The management may include activities such as: looking for tenants, signing a lease for a certain period, collecting the rental price and depositing and at my expense or paying and at the office of the broker, control over the payment of the household bills by the tenant , representation in relation to the condominium, providing assistance and representation in case of dispute with the tenant, etc. The remuneration I pay to the broker is usually determined as a percentage of the rental price, e.g. 15%. Therefore, the broker also has an interest in giving the property at a higher price.

 

In order to legitimize the broker to third parties it is necessary to authorize him / her in writing (or in writing with notary certification of the signature) for the execution of the specified management actions, the power of attorney being an inseparable part of the contract. Accordingly, in the rental agreement I conclude with the tenant it is noted that the rent will be paid to the broker's account, as well as other clauses related to the management of the property by him.

 

I'm a tenant

 

When I seek the assistance of a broker to find a dwelling, respectively, I make a lease with a client, I pay a one-time fee for the mediation (commission), which is usually 30% - 50% of the rental price.

 

Carrying out of real estate purchase and sale

I am a seller

 

The mediation contract for the sale of real estate between me and the contractor (the broker) may include obligations on it such as: posting and placing ads; inspecting; arranging negotiations with potential buyers, and legal issues around the deal. Such are the verification of ownership of the property in the Property Register; verification of property for weights and foreclosures; the preparation of a sales contract and settlement of the transaction to a notary.

 

It is a common practice to sign a preliminary sales contract that introduces a security element in my relationship with the buyer while preparing the final contract - we agree what the price will pay for the property (can pay in advance% of it) when we will sign the contract, under what conditions. Accordingly, upon the conclusion of the preliminary contract, I pay the broker the due remuneration.

 

I am a buyer

 

Again I can sign a brokerage agreement for the purchase and sale of real estate. Most often the broker's duties include: providing information about the properties offered on the market; research my preferred offers; mediation in negotiations with potential sellers, as well as the preparation of documents necessary for the sale.

 

What clauses in the contracts should I have "one on the mind"

All brokerage agreements include a sanction clause if it deals with the broker's face, without noticing it (ie I save the commission payment).

The broker is responsible for finding a contractor until the deal is concluded but not for the fulfillment of the obligations of the other party to the transaction. If, for example, I am a buyer, I am a buyer, but the seller refuses to fulfill the contract - to give me the possession over the property, I still owe the agent a full remuneration in accordance with the brokerage agreement.

Often there is a clause in the contracts for the so-called "Exclusive right" (exclusive right) to advertise the property for sale or rent. That is, I can not use the services of other broker for the supply of the property during the term of the contract.

In some cases, it appears that the broker receives a double reward for the same transaction, e.g. the seller has assigned the property for supply and pays a fee for the transaction; at the same time I also pay him a commission because I buy with his client.

Unfortunately, many brokers are abusing the contact details provided. I have an interest in a property they offer, I call for information, they keep my phone or my e-mail, and start bothering me with a variety of suggestions without I wanting that. As a consumer, I can search the Consumer Protection Commission for 'telephone brokerage harassment'.