News & Updates

NAR settlement: questions for a rental-property purchase or sale

Read the current agreement, not a predicted fee. NAR's settlement practice changes took effect in August 2024. Agent compensation remains negotiable; there is no universal commission or guaranteed saving. Ask the broker to explain the services, term, compensation and any termination provisions for your transaction.

Separate buyer and seller arrangements. NAR's buyer-agreement guide explains written service and compensation terms. Its seller guide explains that offers of buyer-broker compensation can remain an option, but cannot be communicated through the MLS under the practice changes. Confirm how the relevant requirements apply with your broker and transaction adviser.

Keep the sale review separate from tenancy management. Budget the compensation actually agreed, and review the existing lease, occupancy and transfer records separately. A sales-practice change does not by itself rewrite a rental agreement or establish what a rental agent will charge. Save the signed agreements and closing records with the property file.

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When an unusual rental situation needs a clear record

Separate condition evidence from a deduction. Compare dated move-in and move-out records, the item's age, cause and any repair documentation. Fading or ordinary deterioration should not automatically become a tenant charge. Review the permitted deductions and accounting process for the property before using a deposit; a photograph or repair bill alone does not establish responsibility. Start with the state-law guides for the applicable questions.

Review noncash rent before agreeing. An offer of goods or services raises questions about the lease, agreed dollar credit, valuation, ownership, delivery and any remaining balance. Keep the written terms and receipt if an arrangement is accepted. The IRS rental-income guidance includes the fair market value of property or services received as rent in rental income. Ask your adviser about the actual transaction; Rentari does not value or convert gold or other assets.

Arrange access through a documented purpose. Explain the repair or inspection, coordinate a lawful time and review the notice, consent and exception requirements that apply. Keep the request and response with the maintenance record. Trying a resident's door to check whether they are home is not a substitute for arranging access, and a scheduling record does not itself authorize entry.

Respond to an entry-door concern or guest dispute

Separate immediate safety from the complaint review. If someone faces an immediate threat or attempted entry, use the appropriate emergency response. Report a door or lock that does not work through the property's urgent maintenance route, with the location, observed fault and a safe contact method. Keep escape routes clear; do not barricade exits or improvise changes to fire or access hardware. The U.S. Fire Administration's escape guidance explains why doors and windows must remain unblocked.

Investigate conduct without exposing private lives. Record dates, attempted access, reported noise, actual guests and relevant written house rules. Do not infer a person's identity, relationships or responsibility from rumors or an app's name. Review a shared-utility dispute against the agreed billing arrangement rather than inventing a guest surcharge. Limit any access-log or camera review to authorized, relevant records and protect residents' privacy.

Track the repair and next update. Assign the responsible person, arrange lawful access, record what was inspected or repaired and confirm whether the door works afterward. Explain delays and the next update without promising safety before verification. Get qualified local advice on temporary arrangements or a proposed lease ending; a complaint does not establish one universal remedy. Keep the repair response separate from any disagreement about a resident's public comments.