The Real Estate Agent Rental Agreement is a crucial document used in the Malaysian property market when a property owner wishes to engage a licensed real estate agent's services for renting out their property. This agreement is essential for compliance with Malaysian real estate regulations, particularly the Valuers, Appraisers, Estate Agents and Property Managers Act 1981. It defines the scope of the agent's authority, commission structure, and responsibilities in marketing and managing rental properties. The document is designed to protect both the property owner's and agent's interests while ensuring transparent terms for services such as property marketing, tenant screening, rental negotiation, and documentation handling. It's particularly relevant in both residential and commercial property contexts, and can be adapted for individual landlords or corporate property owners.
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1. Parties: Identifies the property owner/landlord and the licensed real estate agent/agency, including full legal names, registration numbers, and contact details
2. Background: Establishes the context of the agreement, including the property owner's intention to rent out the property and engage the agent's services
3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Commission', 'Rental Period', and other relevant terms
4. Appointment and Authority: Formal appointment of the agent and scope of authority granted by the property owner
5. Agent's Duties and Responsibilities: Detailed listing of services to be provided by the agent, including marketing, tenant screening, and negotiation
6. Property Owner's Obligations: Responsibilities of the property owner, including providing accurate information and necessary documentation
7. Commission Structure: Details of the agent's compensation, including commission rates, payment terms, and conditions
8. Term and Termination: Duration of the agreement and conditions for termination by either party
9. Confidentiality: Obligations regarding confidential information and data protection requirements
10. Warranties and Representations: Statements of fact and promises made by both parties
11. Governing Law and Jurisdiction: Specifies Malaysian law as governing law and jurisdiction for dispute resolution
12. Execution: Signature blocks and execution formalities
1. Exclusive Agency Rights: Used when the property owner grants exclusive rights to the agent for a specified period
2. Sub-Agents: Include when the agent is permitted to appoint sub-agents to assist in the rental process
3. Property Management Services: Added when the agent will provide ongoing property management services beyond securing a tenant
4. Marketing Budget and Plans: Include when specific marketing commitments and budgets need to be agreed upon
5. Insurance Requirements: Used when specific insurance coverage is required for the agent's services
6. Force Majeure: Include when parties want to address unforeseen circumstances affecting contract performance
1. Property Details: Detailed description of the property, including address, size, features, and condition
2. Commission Rate Schedule: Detailed breakdown of commission rates for different rental values or scenarios
3. Required Documentation: List of documents required from property owner and potential tenants
4. Marketing Plan: Detailed marketing strategy and platforms to be used for property promotion
5. Agent's License and Credentials: Copies of the agent's professional licenses and certifications
6. Approved Rental Terms: Pre-approved rental terms and conditions set by the property owner
Relevant legal definitions
Agreement
Agent
Agency Period
Appointment
Business Day
Commission
Confidential Information
Effective Date
Estate Agency
Identity Card
Landlord
License
Marketing Materials
Property
Property Owner
Rental Income
Rental Period
Security Deposit
Services
Stamp Duty
Tenant
Term
Territory
Transaction Documents
Agent
Agency Period
Appointment
Business Day
Commission
Confidential Information
Effective Date
Estate Agency
Identity Card
Landlord
License
Marketing Materials
Property
Property Owner
Rental Income
Rental Period
Security Deposit
Services
Stamp Duty
Tenant
Term
Territory
Transaction Documents
Clauses
Appointment
Authority
Scope of Services
Commission
Payment Terms
Duration
Termination
Representations and Warranties
Confidentiality
Data Protection
Intellectual Property
Non-Competition
Non-Solicitation
Indemnification
Insurance
Force Majeure
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendment
Waiver
Compliance with Laws
Professional Standards
Record Keeping
Marketing Authorization
Property Access
Third Party Rights
Authority
Scope of Services
Commission
Payment Terms
Duration
Termination
Representations and Warranties
Confidentiality
Data Protection
Intellectual Property
Non-Competition
Non-Solicitation
Indemnification
Insurance
Force Majeure
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendment
Waiver
Compliance with Laws
Professional Standards
Record Keeping
Marketing Authorization
Property Access
Third Party Rights
Relevant Industries
Real Estate
Property Management
Residential Property
Commercial Property
Property Investment
Professional Services
Property Development
Rental Management
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Business Development
Contract Administration
Operations
Asset Management
Relevant Roles
Real Estate Agent
Property Manager
Leasing Manager
Real Estate Broker
Property Owner
Legal Counsel
Compliance Officer
Estate Agency Director
Rental Property Manager
Business Development Manager
Contract Administrator
Property Portfolio Manager
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