This subsection only applies to rental listings listed by Elite Class Property Management and Real Estate Company or its agents, and only where a commission or referral fee is offered. ​

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Elite Class Property Management and Real Estate Company may, at its sole discretion, cooperate with other licensed real estate professionals, when doing so is in the best interest of our client or customer. We reserve the right to refuse service.

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By cooperating with Elite Class Property Management and Real Estate Company on any of its rental listings, cooperating brokerages agree to the following payment methods, terms, and conditions:

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(1). Commission and Referral Fee Contingencies: All commission(s) and or referral fee(s) offered by Elite Class Property Management and Real Estate Company and its agents are contingent upon the successful completion of the following:
 

• Successful application and document submission by all adults in tenant's household

• Full execution of the lease by all parties to the lease (e.g., all adult tenants, landlord[s], and landlord's agent/property manager)

• Receipt and clearance of all required tenant move-in funds

• Completion of all tenant pre-move-in conditions, including but not limited to establishing all required utilities and services, obtaining a renter’s insurance policy listing the landlord(s) as additionally insured, and fulfilling any other requirements outlined in the lease agreement.

• Successful tenant move-in

 

(2). Difference between Referrals and Commissions: Eligibility for any commission and or referral fee is contingent upon the cooperating brokerage’s role and level of participation in the transaction, as disclosed in these terms. A referral fee applies where the cooperating brokerage introduces a prospective tenant and does not actively participate in the transaction as the tenant’s representative. A commission applies where the cooperating brokerage acts as the tenant’s agent and performs the customary duties associated with such representation throughout the transaction. The type of compensation offered shall be based on the cooperating brokerage’s actual role and participation in the transaction, consistent with these terms and the services performed.
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(a). Referrals: A cooperating brokerage will be considered a referral if they introduce a tenant to our firm but do not actively participate in the transaction as the tenant’s agent. In such cases, Elite Class Property Management and Real Estate Company will handle the transaction in its entirety. Referral fees, if offered, will be paid upon successful completion of the transaction in accordance with the contingency requirements and terms and conditions set forth herein. The cooperating brokerage’s responsibility is limited to ensuring the tenant is placed in direct communication with our office. ​Tenants may contact us Broker@LocalPMC.com cc on all correspondence Eric@LocalPMC.com or text us at +1 201-952-4665

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(b). Commission Expectations (Tenant Representation): A cooperating brokerage will be eligible for a commission only if they actively represent the tenant throughout the entire transaction and fulfill the following responsibilities:

• Act as the tenant’s agent

• Show the property to the tenant

• Relay any concerns of safety or habitability matters to our office immediately on behalf of your client

• Assist the tenant with the application process, if necessary

• Ensure submission of all required documentation

• Assist the tenant in meeting all lease requirements and deadlines

• Guide the tenant in setting up required utilities and services

• Assist the tenant with instructions for submitting move-in funds or assist them in communicating with our office

• Maintain communication with our office and the tenant to ensure the tenant progresses through all required steps

• (Optional, but suggested) Conduct a walkthrough with the tenant prior to lease effective date​

 

If the cooperating brokerage does not perform these aforementioned responsibilities, or requests that our firm perform core functions, the transaction may be reclassified as a referral at our discretion.​

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(3). Payments: Elite Class Property Management and Real Estate Company exclusively utilizes electronic payment methods for all rental listing commission and or referral fee disbursements. By cooperating with us on any rental listing, cooperating brokerages represent and agree that they are able to accept payment via electronic check (“e-check”) delivered via email. All electronic payments are processed through Checkbook.io and are sent to the cooperating brokerage’s designated email address, along with instructions for deposit accessible via secure hyperlink. Payment options include direct deposit or print-and-deposit. We strongly recommend direct deposit, as it allows for streamlined and automated future payments once established. Upon completion of a transaction, the cooperating broker is required to provide a copy of their brokerage’s most current executed W-9 form, along with payment information, including the brokerage’s legal “pay to” name, email address, mailing address, and phone number. All required documentation must be submitted via email to Broker@LocalPMC.com cc on all correspondence Eric@LocalPMC.com or text us at +1 201-952-4665. Disbursement of commissions or referral fees will occur within 30 business days from the lease effective date and upon satisfaction of all of the following conditions:

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• Successful application and document submission

• Full execution of the lease by all parties to the lease

• Receipt and clearance of all required tenant move-in funds

• Completion of all tenant pre-move-in conditions

 

(4). Lease Negotiations: Our firm utilizes customized lease agreements and forms that are not owned, managed, maintained, or standardized by any Realtor association. Accordingly, lease terms and negotiations are conducted directly between the landlord and the tenant. During the transaction, our firm serves as the communication conduit between the landlord and the tenant and acts on behalf of the landlord. The tenant is responsible for reviewing their lease agreement and may, at their sole discretion and expense, seek independent legal counsel for review if they choose. If the tenant has general (non-legal) questions regarding the lease agreement or tenancy, cooperating brokers are encouraged to direct such communications to our office for coordination and clarification. As a general disclosure, our firm is not an attorney and does not provide legal advice. Please consult with a licensed attorney if you are in need of legal advice.