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What is the “prepaid rental listing service”?

19.09.2016 - Housing articles
What is the “prepaid rental listing service”?

Actually, “prepaid rental listing service” denotes that the business of providing prospective renters with listings of residential real properties for tenancy, by publication or otherwise, pursuant to an agreement according to which the potential tenants are obliged to disburse a charge beforehand, or simultaneously with the providing the listings, but that doesn’t engage the compromise of rentals by the person accomplishing the service. Note that PRLS licenses are given for a two years.

Who is a Licensee?

A licensee is either a person who is licensed to perform PRLS (a prepaid rental listing service) or a person occupied in the business of PRLS service under the guidance of a real property broker license.

What is Location?

A location is the place, excluding the central office or area office of a real property broker, where PRLS (a prepaid rental listing service) is taken place.

Who is a Designated Agent?

A Designated Agent is a person who is responsible for the business of PRLS (a prepaid rental listing service) at a definite place. As a matter of fact, it is illegal for everybody to participate in the business of PRLS (a prepaid rental listing service) if not licensed in that capability or if not licensed as a real property broker.

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