Good Tenant Relations Start Before The Resident Moves In.
This disclosure is intended for use by Thompson Management in disclosing agency relationship(s) to the leasee and Lessor.
When you enter into a discussion with a real estate agent regarding a real estate transaction, you should from the outset understand whom the real estate agent is representing in the transaction. More importantly, you should understand how that agency relationsip impacts your business relationship with the realestate agent.
Dutes of The Property Owner's Agent
A real estate agent that has contracted to manage property for the owner acts as a
general agent to the owner and has a fiduciary duty of loyalty to the owner.
In practical terms, the owner has hired the agent to manage their property, and that agent is by law, responsible to all the most favorable terms, and benefits.
Although the owners agent has this fiduciary duty to the owner, that agent is, by law, responsible to all prospective renter's ( Leesee's ) to treat them with honesty, fair
dealings and with good faith.
An owner's agent under a contracted agreement with the owner acts as the agent for the owner. An owner's agent in the management of rental property has the following affirirmative obligations: To the owner, A duty to exercise reasonable integrity, honesty, and loyalty in dealing withthe owner; ( a )To the renter, a duty to excerise reasonable care, skill and diligence in performance of the agent's duties. ( b ) A duty of honesty and fair dealings with good faith ( c ) A duty to disclose all facts known to the agent which materially affect the property that are known to, or within the diligent attention and observation of,the parties.