Texas How-To 

Lease Clients

On this page, we have assembled some training on how to work with Lease clients. They are similar to buyers, but different in several ways. With lease clients you will want to still get them "pre-qualified" but to do so, you won't be sending them off to a lender. Instead you will be collecting the application and documentation yourself.

The reason this step is so important is that you can spin your wheels showing just as many homes to a lease client as you can a buyer, but the payout is much less and often the likelihood of them qualifying for a lease is less likely. There's usually reasons that people lease instead of buy and it's not because they want the flexibility of renting instead of owning. 

As a business owner, you must make sure your return on investment is there. You are investing your time.

Lease Client Consultation

Lease Application Process

How to create your first Representation Agreement & eSign

A 20 minute walkthrough of how to create a Zipforms Buyer Rep Packet (or Tenant Rep) and get it signed in less than 5 minutes!  Easy peasy!  (It takes longer to talk about it than do it!) 

... forgive the bad edit job

Setting up the search in MLS

Log into MLS and click on Search > Residential Lease > Quick

Use the Add/Remove button in the Additional Fields area to add some search criteria that helps to narrow down the search. This is where you can put in criteria such as school districts or specific elementary schools, pets, etc.

Remember, every filter you add is going to remove homes from your search, so be careful how you add them.

Once you create the search, you can set up the client in MLS and set up an "Auto Email" that will automatically email them listings.

TIP: Be sure to uncheck the box that says to CC you a copy of the emails. Also sending Daily is probably preferred instead of ASAP because the client might start getting too many emails.

For more info on how to set up a search & how to show homes, view the tutorials here.

Before you show any house, look in Transaction Desk to see what documents have been posted by the agent such as rental criteria, etc. Not every listing agent will have documents in Transaction Desk, so this icon may not be showing up under the pictures.

Note that there is an additional section in the MLS listing that gives information specifically applicable to lease listings that you don't see on purchase listings.

Applying for the lease

Once you find the house and they want to apply, you will need to make sure that you understand the rental criteria. 

How to get paid

After the application is accepted, the other agent/landlord will prepare the actual lease. The lease commission will be paid out differently than on a purchase deal. You will typically get paid a portion of 1 month's rent. If the listing says 0.35 and the rent is $2700, then you would get GCI of $945  (2700 x 0.35)

At that point, you will need to send them the eXp Lease Invoice with the W-9 attached. Here is the PDF to download and save a copy on your computer. I recommend creating a new saved copy for each individual client by saving it with their name at the end or saving a new copy in a folder on your computer for each individual client.  

How You Get Paid:

Here are the eXp fees on a Lease: 


Next step is to set the file up in Skyslope. Here are step-by-step instructions.

1. Be sure you select the correct Checklist Type: TX Rental Transaction and Type (Representation): Other (or Referral) - see screenshots

2. On the Contacts screen, there is no Title Company on a lease, but you have to complete it by default, so just dummy it up with N/A

NOTE: The rental income is going to be received after the tenant actually moves into the home.  The anticipated move-in date is what you will put for the "Closing Date" in Skyslope and you will also want to push it out an additional 2 weeks to allow for the check to be received in the lockbox.  



Lockbox address (found in multiple places on the fillable Lease Invoice)

eXp Realty, LLC 

PO BOX 207182

Dallas, TX 75320-7182

Applying and Getting Paid