Biblio Previous ADVERTISING SOLD PROPERTIES: SOME USEFUL TIPS! NEW SUBLEASING FORMS The use of the following forms has been recommended since May 22, 2013. Available in electronic version, these forms all come with an explanatory leaflet. Exclusive brokerage contract – Residential sublease The use of the form Exclusive brokerage contract – Residential sublease is recommended when a brokerage contract is signed to conclude the sublease of a dwelling, including a room, located in a chiefly residential immovable. It may also be used for the subleasing of a dwelling located in an immovable held in divided or undivided co-ownership. Promise to sublease – Residential The use of the form Promise to sublease – Residential is recommended to conclude the sublease of a dwelling, including a room, located in a chiefly residential immovable. It may also be used for the subleasing of a dwelling located in an immovable held in divided or undivided co-ownership. It is important to note that these new forms are not to be used for an assignment of lease, in which the lessor permanently discharges himself of the lease binding him to the owner by assigning his rights and obligations under the lease. The concept of subleasing Whereas the leasing of a residential dwelling binds the owner of an immovable (the lessor) to a lessee, subleasing binds the lessee to a sublessee. In addition, when subleasing a dwelling, the lessee retains his rights, including the right to maintain occupancy, and remains responsible for the obligations contained in the lease binding him to the owner, including payment of the rent. The sublessee, for his part, is responsible for paying the rent to the lessee. Unlike the lessee, the sublessee does not benefit from the right to maintain occupancy. For more information on subleasing and lease assignment, read the Information leaflet entitled “Assigning your lease or subletting?” on the Régie du logement website. Like leasing forms, the new subleasing forms are available in electronic format only via the InstanetFormsTM platform. PDF versions of the forms are available on our website for viewing only. A new version of the Advertising Guide is now online under Publications, in the Brochures, folders and various documents page. It includes important changes you should be aware of in your brokerage practice. Additions and changes have been made to section 4.4 on advertising completed transactions (see 4.4.1 and 4.4.1.2). We hope you find it useful! When should a sign be removed? A. As soon as the brokerage contract expires. B. As soon as the deed of sale is signed. C. The earlier of A or B. Answer: C. HOW CAN I MAKE MY EXCLUSIVE BROKERAGE CONTRACT – RESIDENTIAL LEASING NON-EXCLUSIVE? Since December 1, 2012, the mandatory form Exclusive brokerage contract – Residential leasing must be used when an agency or a broker acting on his own account signs a brokerage contract with a natural person to conclude the lease of a dwelling located in a chiefly residential immovable containing less than 5 dwellings. It is possible to make this form non-exclusive. IDENTITY VERIFICATION: WHAT YOU NEED TO KNOW Since May 1, 2010, a broker must verify identities each time he acts as intermediary in a brokerage transaction (residential, commercial or mortgage). This means you must verify the identity of any party, including the person signing a brokerage contract or a transaction proposal, whether this person is signing on their own behalf or as representative of an estate, a legal person, a financial institution, etc. Identity is verified using a valid photo ID card. Z To read the full text: www.oaciq.com, article no. 122989 To read the full text: www.oaciq.com, article no. 123234 To read the full text: www.oaciq.com, article no. 122970 24 Profession Broker September 2013 Profession Broker September 2013 25