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Updated over 7 years ago on . Most recent reply
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Using a Realtor for lease sign up / a la carte services (Virgina)
I would like to use a realtor to help lease out my rental property in Richmond, VA. At this time, I am not wanting on-going property management services.
If a realtor helps a property owner rent out a property (i.e., marketing, showings, overseeing signing of the lease, delivery of keys, and move-in inspection), is there a Virginia law or regulation that requires the realtor to use his lease agreement instead of the lease agreement the property owner provides?
If there isn't a Virginia law or regulation, why would a realtor insist on using the realtor's lease agreement and "not budge"
on using the lease agreement used by the property owner for 7+ years counting?
As a property owner, what risks do I open myself up to by having to adhere to and govern a realtor's lease agreement that was not written specifically for my property?
Two other realtors have agreed to use my own lease since I am not utilizing on-going property management services. However the realtor I wish to use, insists his lease agreement must be used so he doesn't open himself up to risk. He isn't doing a good job in explaining his point of view, which why I am here. I hope someone else can explain it to me so I understand.
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I haven't seen the leases and I'm not a lawyer, but I imagine that the lease your realtor wants to use is written in a way that protects you a little better leagally. The leases realtors have access to through programs like Zip Forms are usually updated regularly to comply with the current laws and regulations of the state in which they are being used. You should ask your realtor if this is the case, and if so, I would trust them and just use their lease. Good luck!