Entering into a letting agent terms of business (LATB) agreement is the start of growing a relationship between letting agent and landlord. It is crucial that your agreement adequately captures the rights and responsibilities of each party. For a landlord, entering into a letting agent terms of business agreement allows them to take a step back from the demands of renting whilst, for a letting agent, it provides an exciting opportunity to get involved with new properties.
This short tutorial will explain how you can tailor your LATB with Legislate within minutes, whilst ensuring both parties are protected. Legislate will allow you to quickly confirm costs and responsibilities- important for when issues do arise with properties.
The first step is to set the terms of the agreement. Legislate ensures your agreement contains all the key terms, whilst allowing you both flexibility to choose your rates. Documents such as a Schedule of Fees can be uploaded to keep all your information one place.
Next, once you have answered Legislate’s questions about the LATB arrangement, a first draft will be available for preview. The contract can be prepared by the person who has the authority to sign or one of their assistants.
The next step is to specify the parties to the agreement: the letting agency and the landlord. The letting agency can register their company as a party to the contract.
The signatory of the company and the employee will then receive invitations to the contract via email. They will be able to update their details when they accept the invitation.
Keep up to date with the progress of your contract using the ‘Activity Tab’. Here, parties can communicate with each other about the contract’s terms. Terms can be changed by the contract creator up until the contract has been signed.
Once both parties are happy with the terms of the contract, both parties are invited to sign
The Legislate dashboard is where you’ll be able to keep track of your contract. As a letting agent, you will be able to manage your multiple LATB agreements.
Our users prefer Legislate because our templates are thorough and flexible and because they can access their contract at any time before, during and post agreement from their Legislate vault.
You can read more about our Letting Agent Terms of Business Agreement on our contract page.
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