A Tennessee Brokerage Agreement for Services to Tenant is a legally binding contract between a tenant and a real estate broker or agent offering brokerage services in Tennessee. This agreement outlines the terms and conditions under which the broker will assist the tenant in finding suitable rental properties. The agreement typically begins with identifying information such as the names and contact information of both the tenant and broker. It also includes the effective date of the agreement and the duration for which it remains in effect. The purpose of the agreement is to establish a professional relationship between the tenant and broker for the sole purpose of assisting the tenant in locating a rental property. Some key points covered in the agreement include: 1. Exclusive Representation: The tenant may grant the broker the exclusive right to represent them in their search for a rental property or opt for non-exclusive representation, where the tenant can work with multiple brokers simultaneously. 2. Scope of Services: The agreement details the specific services the broker will provide, such as identifying potential rental properties, scheduling property visits, negotiating lease terms, and facilitating the lease signing process. 3. Compensation: The agreement specifies how the broker will be compensated for their services. The compensation is typically a percentage of the total rent amount or a predetermined fee. It may also include provisions for the payment of any other expenses incurred during the property search. 4. Obligations of the Tenant: The tenant agrees to provide accurate information about their rental requirements, promptly communicate any changes in their preferences or circumstances, and refrain from directly contacting landlords or property owners without the broker's knowledge. 5. Termination: The agreement outlines the circumstances under which either party can terminate the agreement, such as non-performance, breach of contract, or completion of services. It is important to note that there may be variations of the Tennessee Brokerage Agreement for Services to Tenant depending on the specific brokerage firm or individual broker. Some brokers may have their own customized agreement templates, while others may utilize standard industry forms. Regardless of the variations, the key elements mentioned above are typically included in all brokerage agreements for services to tenants in Tennessee. In conclusion, a Tennessee Brokerage Agreement for Services to Tenant is a legal contract that outlines the responsibilities, rights, and obligations of both the tenant and the broker in their pursuit of finding a suitable rental property. It regulates the relationship between the two parties and ensures that the tenant receives professional assistance throughout the process.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.