In addition to the unmanaged rental services mentioned above, the managed mandate includes a correct accounting of all funds received monthly by the tenant. The real estate agent will withdraw the tenant`s rent and deduct all expenses and payments as instructed by the landlord and pay the landlord monthly for the remaining balance. He is responsible for inspecting the property every two months and dealing with all matters or day-to-day management of the property and ensuring that all necessary maintenance and repair work is done in a timely manner. Both the lessor and the tenant are required to sign a tenancy agreement before the lease, the contract describes both the obligations of the tenant and the landlord. The managed lease is a complete service offer; However, it is often misunderstood that the agent is there to do everything the owner needs. This is not the case and very often the agent will “go the extra mile” to provide services outside the rental agreement to appease the landlord and tenant. It is important to understand what is agreed in the lease and any additional services may be associated with additional costs. On the other hand, the CPA authorizes the legal termination of a rental agreement at any time for 20 working days, in which case the landlord is allowed to charge the tenant a cancellation fee to cover the costs. This tax must be agreed in the lease agreement.
This is facilitated when the lessor and tenant have included in the tenancy agreement a termination clause that allows early termination, if any, on the basis of acceptable conditions. However, if they do not agree or if there is no termination clause in the lease, the CPA or the RHA legislator apply. At the beginning and end of the lease, the broker will conduct a thorough and outgoing inspection with the owner and tenant present in order to agree on the condition of the property, before and after the occupation. A surety is held in an interest account until the inspection is completed and all repairs have been made. The residual deposit is then refunded to the tenant by appointment from both the tenant and the landlord. If the property is rented, the tenant is also bound by the rules contained in your tenancy agreement. We need a copy of the rental agreement for our reference and that of the tenant, before completion. The tenant can legally terminate the tenancy agreement at any time, but the termination of the tenancy agreement before the expiry of the tenancy agreement is punishable by termination penalties. The lessor has the right to collect a reasonable cancellation fee in accordance with the lease agreement signed on the basis of the remaining lease term before the expiry. The tenant or lessor may terminate the tenancy agreement before the agreed termination date, provided that the termination complies with the Rental Housing Act (1999) and the Consumer Protection Act (2008). This is the most common of the two, and is usually the result of unforeseen circumstances such as job loss, changes in family structure, relocation or emigration. Cancellation is allowed as long as both parties agree.