Tenant Disclosure
Real estate professionals have a regulatory requirement to present you with this consumer information before providing services to you.
This information from BC Financial Services Authority explains the role of a real estate professional when you are considering renting a property.
The real estate professional who gave you this form represents the owner of this residential rental property.
While this real estate professional can provide some limited services to you as a prospective tenant of this rental property, they owe a duty of loyalty to the owner, and are working for the owner’s best interests.
This form sets out what this real estate professional can and cannot do for you as a prospective tenant in relation to this rental property.
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THEY CANNOT
- give you advice on terms and conditions to include in a tenancy agreement
- negotiate on your behalf
- share any of the owner’s confidential information with you
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THEY CAN
- share statistics and general information about the rental property market
- provide you with standard forms and contracts such as a rental application and/or tenancy agreement
- show the property
- assist you to fill out a tenancy agreement
- communicate your messages and present your offers to their client
Because this real estate professional is working in the owner’s best interests, they have a duty to share important information with the owner if disclosed by you including, for example: your motivations, your financial qualifications, and your preferred terms and conditions.