Lease Extensions

Lease Extensions

When an agent is helping a client with a Lease Extension on either commercial or residential, we must have a file in Skyslope.When inputting the file in SkySlope use the Lease Extension Checklist Refer to the Lease Transaction Process with the noted exceptions below:
  • Put Lease Extension for the MLS # and Escrow #.
  • COE date will be the Commencement Date of Extension
  • Once the file has been created, the agent needs to complete a Commission Demand Request (CDR) so the Commission Department can draft the Agent Commission Disbursement (ACD).
  • Agent is responsible to invoice the client for the full BHHSDP Commission due. The invoice can be created by using the Invoice jotform at https://app.jotform.com/220337412003135/213077132643147 or they can use their own invoice. If the invoice jotform is used, the agent will need to forward the PDF invoice that is created to the client, as it is not set up to send automatically.
  • The full BHHS lease commission (excluding additional funds such as security deposit, reimbursements and other co-op broker commissions) is to be sent to the Home Office and due immediately upon lease extension completion.
  • Lease Extensions will be processed based on the Commencement Date and released to the agent once the file is reviewed and deemed complete.
The documents needed for the file are:
  • New Lease Agreement or Lease Extension
  • Copy of the original lease agreement if there is an option for an extension
  • Lease/Rental Commission Agreement (C.A.R.)
  • Agent Commission Sharing Agreement (C.A.R.)
  • Commission Demand Request
  • Invoice
  • Check Copy

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