Ads
related to: what is a rental agent
Search results
Results From The WOW.Com Content Network
Letting Agent Building in Crewe. A letting agent is a facilitator through which an agreement is made between a landlord and tenant to rent a residential property. [1] This is commonly used in countries using British English, including countries of the Commonwealth. In the UK, Australia, and New Zealand, the agreement between landlord and tenant ...
Estate agents who handle lettings of commercial property normally charge a fee of 7 to 15% of the first year's rent, plus the whole of the first month's rent. If two agents are charging 10%, they will split the fee between them. Estate agents selling commercial property (known as investment agents) typically charge 1% of the sale price.
The term "agent" is not to be confused with salesperson or broker. An agent is simply a licensee that has entered into an agency relationship with a client. A broker can also be an agent for a client. It is commonly the firm that has the actual legal relationship with the client through one of their sales staff, be they salespersons or brokers.
It is common practice for an intermediary to provide real estate owners with dedicated sales and marketing support in exchange for commission.In North America, this intermediary is referred to as a real estate agent, real estate broker or realtor; whilst in the United Kingdom, the intermediary would be referred to as an estate agent.
A rental agreement may provide for the renter or lessee to become the owner of the asset at the end of the rental period, usually at the renter's option on payment of a nominal fee. Such arrangements may be known as Rent-to-own, a term used in the United States for rental of furniture or appliances. The term is also used in the US for real ...
A broker's license is required for any person or company that, for compensation, leases or rents or offers to lease or rent, or places for rent, or solicits listing of places for rent, or solicits for prospective tenants, or negotiates the sale, purchase, or exchange of leases on real property, or on a business opportunity, or collects rents ...
Ads
related to: what is a rental agent