Must I sign a joint mandate for another agency to market my rental unit?
Hi, we have been giving permission to market a unit for a six-month, long-term let. We are aware that there is another agent also marketing the unit.
Is it necessary to get the landlord to sign a joint mandate for a long-term let? – David
Hi David, I do not think it necessary to call upon the owner to sign a joint mandate in this instance, unless of course you (and the other agency) want to.
In this regard, it must be noted that you would run the risk of the other agency sharing in the commission, in circumstances where they may not necessarily do any work or actively market the property. As things stand, the agency that successfully lets the property in question will be entitled to receive the commission, and if you are happy to proceed on that basis then I would suggest leaving things as they are.
As a precautionary measure, however, I would suggest enquiring as to the terms of the mandate that have been given to the other agency, so as to ensure that there are no disputes that arise in the event of your agency successfully letting the property concerned.
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Who is Marlon Shevelew?
Marlon Shevelew is the director of Marlon Shevelew and Associates Inc. a law firm specialising in rental property, contractual, consumer and company law.