Tenant Representation Agreement
Minimal Representation and Service for Tenants in Today’s Market!
Most real estate agents will not take the time to work with tenants since the investors who own the rental homes will not pay a fair fee to find the tenant for them. This leaves the tenant looking for a home to lease with very little representation, if any, and little service. It’s not that real estate agents don’t want to represent the tenant, they simply can‘t afford to. With the cost of gas, time, and staff, many times the agent actually loses money working with a tenant.
The tenant generally has no choice but to work with an agent who represents only the landlord. In this scenario, the tenant can easily fall prey to paying too much rent, renting an unsafe home, signing a lease with unacceptable terms, paying excessive deposits, missing good opportunities and having fewer choices of available properties. An unrepresented tenant could actually be paying for things that are not customary and may overlook important issues that could cause headaches and a financial burden down the road. If you’re dealing directly with the owner of the home, you may risk giving money to someone without a valid lease, who doesn’t even own the property or who is in foreclosure and not making his payments.
Representing YOU, the Tenant
I want to take my 32 years experience and represent you in a professional manner, help you negotiate the best lease, help you find the best home, keep you out of trouble, speak on your behalf and make your home finding experience a pleasant one! Unfortunately, I can’t afford to drive you around and show you homes, so you will have to do some of the leg work yourself, but I can dramatically reduce the frustration in finding a home to lease, advise you of potential issues that you may not be aware of and negotiate the best lease on your behalf.
Fee Structure
As a company we must pay our costs, but, fortunately for you, we can rely on the landlord to pay part, if not all, of my company’s fee. The fees paid by the landlord are not consistent and vary from landlord to landlord. My fee is $500 minimum or whatever the landlord is paying, whichever is greater. To get you the best service and representation, here is how the fee structure works. You will be charged a nominal $300 up front for my company’s services as a non-refundable retainer. When you lease a home from my company, I will rebate you any monies received over and above the $500 minimum I get paid from the landlord to a maximum of the $300 you have paid me. For example if I get paid $800 from the seller, you will get all of your $300 back. My company’s services will cost you nothing and probably saved you a lot of money, time and frustration. If the landlord pays my company $300 then you would get $100 back ($200 of your $300 plus landlord’s payment of $300 = $500 minimum fee). I can probably save you much more than the $200 in this case just in negotiating on your behalf and saving you gas and time by finding and mapping the properties for you. If you find a home from a private owner that is paying no fee (very few ) then you will owe me an additional $200. Of course you can ask in the lease negotiat0ns that the landlord is to pay the $500 fee. (Many will gladly pay this to get the home rented!)
Services Provided
For the $500 fee you will receive the following: we will conduct a thorough interview determining exactly what you are looking for, complete your application and run your credit report. We will work with everyone, even those who have less than perfect credit. While we can’t promise you will qualify, we do everything possible to help you obtain a lease. We will check your employment, references and rental history and prepare a package for the landlord. Many times a discussion with the landlord selling you strong points can win them over. We will establish a Multiple Listing Service search for you based on your location and home criteria and begin emailing you daily all listings that meet your needs and wants. You can check these out in the comfort of your home and call my office to check availability. Arrangements will need to be made to meet you at the house if it is currently occupied. We will assist in negotiating the lease & possible splitting the deposit over a couple of months if need be, advocating your credit issues with the landlord, and other issues you may need assistance on. We will also check to make sure the house is not in foreclosure and the person you are dealing with is actually the owner (many tenants have been ripped off here). We can’t guarantee any landlord’s acceptance of the terms of the negotiations, but 32 years has taught me a great deal on how to develop a win/win situation for both the landlord and tenant . I can use this experience now on your behalf. As an additional bonus, if it is in your best interest, I can also work with you on lease options, lease purchases, contract sales, rent to owns, etc.
Agreement Term
This agreement will be valid for a period of six months from the date signed. The $300 retainer is made out to Valentine Sales & Management and is non-refundable for any reason. Call for an interview time to get the process started. I look forward to serving you. Please call with any questions.
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Tenant Date Valentine Sales & Management Date
Valentine Sales & Management
12031 N. Cave Creek Rd.
Phoenix, AZ 85020
dan@valentineteam.com
602-866-0150 Office
