Having been in real estate for 30 years as a licensed agent, I understand the desire an agent feels to help out and, more importantly, to look out for the best interests of clients. However, sometimes even with the best intentions, a client you helped rent a place might find himself or herself at odds with the landlord and wants to sublease or might suddenly need to find a roommate -- or replace one. Here are four common mistakes someone in your client's position should be aware of and which you could advise them. 1. Not going over the contract extensively Before he or she signs the lease, go through each section to ensure that he or she can legally have a roommate. Your client should communicate with the landlord that he or she is interested in having a roommate, so the roommate can be added to the contract -- and thus held to the standard and terms that have already been agreed upon. If the client is allowed to have a roommate, be sure to create a list of all the details ...
- Review the fine print of every contract and know what you are entitled to or responsible for.
- If bringing a roommate in, you should thoroughly vet him or her, including background and credit checks.
- Plan ahead, and go over all of the rules ahead of time, as well as checklists and inspections so that everyone knows what their responsibilities are.
Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York