Agency Relationship with the Landlord
The Property Management division of Coldwell Banker Horizon Realty (HORIZON) works within a legal relationship called the Law of Agency. The agency relationship exists between the Owner/Landlord as the Principal and HORIZON as the Agent. The essence of the agency relationship is that the Agent has the authority to represent the Principal in dealings with others.
The Property Managers acting for HORIZON are legally obligated to protect and promote the interests of the Principal as they would their own.
Specifically, HORIZON has the following duties:
- Undivided Loyalty – the Agent must protect the principal’s negotiating position at all times, and disclose all known facts which may affect or influence the principal’s decision.
- To obey all lawful instructions of the principal.
- An Obligation to keep the confidences of the principal.
- To exercise reasonable care and skill in performing all assigned duties.
- To account for all money and property placed in an Agent’s hands while acting for the principal.
- Full disclosure of Cross-Agency Services provided by HORIZON.
You can expect the highest level of service from your Property Manager, knowing that the company is bound by the ethics and the law to be honest and thorough in representing you, their Principal.
The Property Manager of HORIZON will be signing documents on behalf of the landlord or principal.
Property Management Services provided on properties offered for Lease by HORIZON have an owner commission or fee that the owner has agreed to pay to Horizon.
HORIZON does not afford an Agency Relationship with a tenant.
Property Managers with HORIZON has a legal and ethical duty to provide a tenant with accurate, honest answers to their questions and can provide all these services:
- Explain real estate terms and practices
- Provide and explain forms used
- Assist you in screening & viewing properties
- Identify and estimate costs involved in leasing
- Assist in completing all forms
- Prepare all documents as needed
HORIZON is bound to act at all times within the constraints of the Residential Tenancy Act and/or the Manufactured Home Park Tenancy Act of the Province of British Columbia
WE CANNOT disclose any confidential information about our principal unless otherwise authorized.