The BC Real Estate Association updated the Authority to Lease contract some time ago, changing the single Lease Rate field to offer new options, including three for Gross Rent, three for Basic Rent and two Additional Rent fields.
Our commercial MLS® did not have the corresponding fields, which meant we had to work around this by adding the full details of the Lease Rate fields from the Authority to Lease contract into the Realtor remarks of the listing. Effective April 21, the new expanded fields will be available in Paragon Commercial for members’ use.
What this means if you have an existing Active listing:
If your listing was entered by Board staff, they already have a copy of your Authority to Lease contract on file and starting April 21, they will begin updating all Active Lease listings by completing the information in the newly-available Lease Rate fields, and removing the information from the Realtor remarks, where it is no longer needed. Once those changes have been completed in your listing, you will receive an email advising you the change has been made and asking you to double-check the Lease Rate information entered in your listing for accuracy.
If you posted your own listing using your Agent Load access, or your office posted it using Broker Load, the Board does NOT have a copy of your Authority to Lease contract. In those instances, you will need to request your Broker Load office to update the information for you.
You’ll also notice a new Lease specific report available which reflects all the new fields. If you have any questions, please email our HelpDesk or contact them at 604-930-7626.