Agency when renting your own home?

Question

A quick search didn't turn anything up; I'm a licensed agent working with a brokerage as a property manager and I'm prepping my first personal rental.

I'm mildly concerned about my brokerage getting legally associated with the rental.

Either way, does anyone use a disclosure at lease signing clarifying that you are an agent working for X brokerage, but you are acting as an individual and the brokerage is not affiliated with the lease transaction?

Nicholas Flatoff · Answer

Thanks!

I've spoken about the rental with one of our brokerage partners and there's no concern there; I'm a "no loose ends" kind of person, however, and would prefer to have something in writing should anything come up.

Let me ask it a slightly different way--is there any harm in adding a liability limiting disclosure regarding my agency and brokerage to the lease packet?

Steve Vaughan · Answer

Congrats on your first rental @Nicholas Flatoff!

When I see CL ads for rent here in WA that are owned by or affiliated with an agent, there is always (or should be) a disclosure that 'landlord/owner is a licensed agent in the state of WA' or some such.  That's state stuff, though.

I would either ask my broker or don't tell them. Clear as mud, right?  What does your agreement with your agency say, if anything?

I was in the process of getting licensed to manage for others.  'Sponsored' by a large local brokerage because PMs here are so atrocious.  I didn't do it after discovering that none of my clients would actually be mine.  They are the clients of the brokerage.  Brokerages can be highly territorial and possessive.

Did you acquire the rental with 'help' from your brokerage?  If not, I would rent out my own place and not tell, but that's just me.  It's not their deal. Sometimes asking for forgiveness is better than asking permission.  Good luck!