Before committing to work with any specific licensed real estate rental broker, you should ask the broker for a copy of their rental information package. This package should include a listing contract and rental agreement and explain in detail the commission and fees involved. The listing contract between an owner and broker spells out the general information of the resort, size, and commission structure. The rental agreement specifically details the exact dates for rent and should be updated annually for a rental transaction to take place. A release form or quasi exchange-rental contract is not a real estate rental agreement. For rental only listings most brokers will not have an up-front fee. Rentals are time sensitive, so owners should expect to pay a 20-50% commission to provide a reasonable incentive for an agent to rent their unit. Be sure to review broker information for any minimum commissions or any other fees for services that may be due after the transaction is complete. Never give your credit card number or send a check to anyone including a licensed broker, for a rental only listing. Broker information packages for owners should include:
FINAL NOTE: IF YOUR GOAL AS AN OWNER IS TO RECEIVE MONATARY COMPENTSATION FOR YOUR WEEK NEVER SIGN A RELEASE FORM OR QUASI EXCHANGE-RENTAL CONTRACT. CHOOSE A BROKER SPECIALIZING IN OWNER BASED INVENTORY WITH A SPECIFIC "RENTAL ONLY" AGREEEMENT. |
