Rentals & Leases - How to Set Up in Dotloop

Rentals & Leases - How to Set Up in Dotloop

When setting up the loop – select the appropriate category under “Loop Template”

 

1.Loop set up – Rental Referral Only – Agent is receiving a referral fee for referring tenant.

*“Real Estate Other” template will load with the following 2 items:



Documents & Instructions:

- Referral Agreement or MLS Broker Synopsis – MLS Broker Synopsis showing the lease fee (ex: $200) or a copy of the Referral Agreement or Commission Agreement.
- CDA – complete CDA with lease fee amount.
- Submit folder for review.

*Per Accounting – the agent pays DW 10% of the commission amount if it is less than $500.

IMPORTANT! For LEASE RENEWALS – please choose this option.  Please upload the new lease, escrow deposit (if Dalton Wade is holding escrow) and your CDA.  The loop name can be changed to “LEASE RENEWAL – XYZ Property” or you can add a folder to your loop titled “LEASE RENEWAL” to indicate this is a Lease Renewal.

 

2.Loop set up – “Rental List Side” - Agent is listing property for lease.

Select Stellar MLS or Non-Stellar – appropriate paperwork will load! If you are Stellar MLS - the Owner Authorization will auto-populate.  If you are Non-Stellar - the Owner Authorization will not auto-populate to your folder.

*“Listing for Lease” template will load the folders & documents.  Your loop should look like this (if you are Stellar MLS):


Required Documents & Instructions:

Listing Paperwork – agent to upload required documents & send “Exclusive Right to Lease Listing Agreement” to Phil for his initials on Section 9. – Arbitration. If missing Phil’s initials – the folder will be returned.

Under Agreement Paperwork:
– Residential Lease – can be from landlord’s attorney.
*If DW is Holding Escrow: Agent to deposit funds to escrow for future occupancy date.
- Agent deposits the payment from tenant (example: 1st month, security deposit, pet deposit, etc.) at TD Bank nearest them to the DW Escrow account ending in 5884 (amount per lease).  Instructions are on the “Rental Escrow Information” document in the folder.
- Agent writes address on deposit receipt – receipt should show address, date, acct. # ending in 5884 & amount of deposit.
- Agent takes photo of deposit receipt and uploads to the “END TRANSACTION PAPERWORK” & sends email to Miles at:  miles@daltonwade.com.
- Agent completes the “DW-Rental Escrow Deposit Receipt” and sends to tenant & landlord.
*If DW is NOT holding escrow –above forms do not need to be completed.
- Agent receives check (must be made out to Dalton Wade) from landlord – check to be mailed to office or deposited to the TD Bank Commission account ending in 5807.
- If depositing check to TD Bank commission account – agent must take photo of check, go to nearest TD Bank – fill out deposit slip & make deposit.
- Agent writes address on deposit receipt – receipt should show address, date, acct. # ending in 5807 & amount of deposit.
- Agent takes photo of deposit receipt & upload to the “END TRANSACTION PAPERWORK” & sends email to Miles at:  miles@daltonwade.com.
*End Transaction Paperwork:
- CDA – agent completes and includes payment to the landlord if landlord receiving funds.
- Photos of deposits will be uploaded to this folder.

**If you are depositing a check to the DW Commission account – please let us know & we will be happy to send you the account information.

NOTE:  There are lots of apps that convert photos to PDF files like Camscanner. Dotloop does not allow photos to be uploaded.JPG, .JPEG, .GIF, etc.  All photos must be converted to PDF files.

*If the landlord is holding escrow & no funds are going to the landlord – you do not enter the landlord info on Line 3 of you CDA.

- See below for completing CDA.

3.Loop set up – “Rental: Renter/Leasee Side” -  Agent secures the tenant & is receiving payment from the listing agent or landlord.

Select Stellar MLS or Non-Stellar – appropriate paperwork will load! If you are Stellar MLS - the Owner Authorization will auto-populate.  If you are Non-Stellar - the Owner Authorization will not auto-populate to your folder.

*“Lease” template will load: 


Required Documents & Instructions:

*Initial Rental Paperwork:
- Agent to upload required documents including executed Residential Lease.
*If DW is Holding Escrow: Agent to deposit funds to escrow for future occupancy date.
- Agent deposits the payment from tenant (example: 1st month, security deposit, pet deposit, etc.) at TD Bank nearest them to the DW Escrow account ending in 5884 (amount per lease).  Instructions are on the “Rental Escrow Information” document in the folder.
- Agent writes address on deposit receipt – receipt should show address, date, acct. # ending in 5884 & amount of deposit.
- Agent takes photo of deposit receipt and uploads to the “END TRANSACTION PAPERWORK” & sends email to Miles at:  miles@daltonwade.com.
- Agent completes the “DW-Rental Escrow Deposit Receipt” and sends to tenant & landlord.
*If DW is NOT holding escrow –above forms do not need to be completed.
- Agent receives check (must be made out to Dalton Wade) from landlord – check to be mailed to office or deposited to the TD Bank Commission account ending in 5807.
- If depositing check to TD Bank commission account – agent must take photo of check, go to nearest TD Bank – fill out deposit slip & make deposit.
- Agent writes address on deposit receipt – receipt should show address, date, acct. # ending in 5807 & amount of deposit.
- Agent takes photo of deposit receipt & upload to the “END TRANSACTION PAPERWORK” & sends email to Miles at:  miles@daltonwade.com.
*End Transaction Paperwork:
- CDA – agent completes and includes payment to the landlord if landlord receiving funds.
- Photos of deposits will be uploaded to this folder.

**If you are depositing a check to the DW Commission account – please let us know & we will be happy to send you the account information.​

NOTE:  There are lots of apps that convert photos to PDF files like Camscanner. Dotloop does not allow photos to be uploaded.JPG, .JPEG, .GIF, etc.  All photos must be converted to PDF files.

*If the landlord is holding escrow & no funds are going to the landlord – you do not enter the landlord info on Line 3. 

Completing CDA:

Agent must complete the CDA to receive lease referral/commission payment.

-Open the CDA - enter the name of the leasing company/landlord/listing agent in the title company field.
-Commissions Explained box - enter “flat fee of XXXX ” or half month's rent & the actual amount (example: $950).
-Closing date – date tenant is moving in or lease is renewed.
-Top Portion – please ensure you enter all the pertinent information/boxes are completed. Do not leave any boxes blank.
-Bottom Portion – enter the fee you pay to Dalton Wade (if the commission amount is less than $500 – your portion to DW is 10% (example: $250 referral fee – agent portion will be $25.00 to DW) which will be entered on Line 1. - Payable to Dalton Wade. Your commission will be the amount of the commission minus the DW portion – you will enter this amount on Line 2. Payable to with your name and amount of your commission.
-Delivery Instruction box – type your address for check to be mailed to or enter “eCheck” to receive your check via email. (Please read the “eCheck FAQ” for agents on the Dalton Wade Agent Support website – https://daltonwade.zohodesk.com/portal/en/signin click "Sign Up" if you have not set up your account please do so as there is a lot of valuable information on this website for agents.


**Accounting cannot pay agent without a CDA.  Please ensure the information in all required fields is entered prior to submitting for review to Compliance.  If you have any questions or need assistance, please do not hesitate to reach out to Support!


Dalton Wade Support is here to assist you!

Support Hours:  Mon. – Fri. – 9am – 7pm & Sat. & Sun. 12pm – 5pm

Phone:  727-914-9174

Email:  support@daltonwade.com



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