What does our Red Carpet Rental Program offer?
Leasing Commission Guarantee
Agent will provide a limited-guarantee on the leasing commission IF Agent collected original leasing commission for the lease being guaranteed. If the Tenant is evicted due to non-payment of rent, or the Tenant uses military or diplomatic transfer out of the property within the first year of the lease terms, then Owner will be credited a pro-rated share of the leasing commission for unfulfilled occupancy of the lease terms. The pro-rated leasing commission guarantee credit will be applied on Owner’s next leasing commission charge if the next Lease is performed by Agent. The Leasing Commission guarantee only applies through Tenants procured and whose rental application was vetted through Agent. The Leasing Commission guarantee is for a pro-rated value of one leasing commission never to exceed the value of one-month’s rent.
Example: A Tenant submits a rental application through Agent, and Owner confirms acceptance of Tenant with Agent and that the Leasing Commission Guarantee Program applies to the new Lease. The Lease is for one year at a price of $2,400 per month. The Agent charges Owner a $2,400 leasing commission charge. Five months into the lease the Tenant transfers out using military orders, diplomatic transfer, or is evicted at the end of five months and Tenant only fulfilled 5/12 of their Lease obligation. The Agent will therefore credit the Owner 7/12 of the last leasing commission towards their next leasing commission through Agent ($1,400 credit towards next leasing commission).
Late Rent Fee Split
Any late rent administrative charges assessed and collected from Tenant will be equally shared with the Owner.
InspeQT™ Smart-App Platform
Technology platform and software application customized to the Premises and provided to Owner and customers of the Owner as a property management and smart-home tracking tool. This software application delivered and provided through InspeQt ™ will be charged accordingly.