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Updated about 9 years ago on . Most recent reply
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Disclosing license on rental agreement
I'm new to posting on any type of forum but I've listened to and played around on bigger pockets for awhile now.
Anyway, I am going to be renting my home. The property is in missouri and I am a licensed re agent in the state of missouri. I've been inactive for awhile now but I keep my license for a few reasons, mainly the warm and fuzzy that I have something to fall back on if things get crazy at my current job.
2 questions:
First, am I required to disclose and/or have it on my rental agreement that I'm a licensed agent in this state?
Second, If I am, would a few of you please share the paragraph or verbage that you have in your agreement so that I know that I'm using the correct verbage and covering myself.
Thanks for all the help in advance!
Joel
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- Real Estate Broker
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Joel, as a real estate agent, you should be familiar with your state requirements: click here. I'm not from Missouri but it took me just a couple minutes to find your state statutes through the commission web site and confirm that you must disclose if you are a licensed real estate agent. Here is the exact quote from Missouri statutes:
339.770. 1. In a residential real estate transaction, at the earliest practicable opportunity during or following the first substantial contact by the designated broker or the affiliated licensees with a seller, landlord, buyer, or tenant who has not entered into a written agreement for services as described in subdivision (5) of section 339.710, the licensee shall provide that person with a written copy of the current broker disclosure form which has been prescribed by the commission.
However, you said your license is inactive right now. If that is the case then you are not acting as a licensed real estate agent and do not have to disclose. If you activate your license again, then you may have to notify all your tenants.
@Fred Dray I think you misunderstood his question because he wasn't referring to the license #; he was talking about the requirement to disclose his status as a licensed real estate agent. I would also point out that you may be doing it wrong in California because they are pretty clear about disclosing your information or that of the owner in Statute 1962.
- Nathan Gesner
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