Network members Guidelines for the Marshall Reddick “Gold Star” Program
Definition:
Upon close of escrow, if property
is not rented within 90 days, all sales/marketing activity of said area
will cease immediately or the Broker will pay the loan or the rental amount (whichever
is lower) until it is rented for up to one year.
Benefits of Buying in Gold Star area:
- Peace of mind, less worry
- Better assurance your property will be rented in the first three (3) months after
closing
Click here to see Gold Star areas.
Network Member Responsibilities and Exclusions:
- Network member cannot restrict type of renter (no smokers, no pets, no kids, etc)
- Network member must sign and execute Property Management agreement with a Network approved
Property Manager, including all applicable deposits, within seven (7) business days
after closing.
- Network member needs to follow property manager’s advice to reduce rent if needed as long
as it does not go below the rent range quoted by the Broker
- Network member is informed by the Broker, in writing, that property may take a little
longer to rent (e.g. it is a more expensive house or it is a builder’s closeout
or it closed in December or a quiet time of year).
- Network member realizes this is null and void in case of natural disasters, and acts of
God
- Network member realizes hotel condos, nightly rentals, commercial properties, REOs, and
international properties are all exempt
- Only applies to first property if network member purchases more than one in same geographical
area