(a) Every rental location agent engaged in any of the activities described in § 62-25-102(2) shall give a prospective tenant a contract or receipt, and the contract or receipt shall include a recital that any amount in excess of ten dollars ($10.00) shall be repaid or refunded to the prospective tenant if the prospective tenant after bona fide effort does not obtain a rental through the listing furnished by the rental location agent.
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Terms Used In Tennessee Code 62-25-104

  • Contract: A legal written agreement that becomes binding when signed.
  • Rental location agent: means any person who engages in or is employed in the business of locating, providing assistance in locating or furnishing information concerning the location or availability of real property, including apartment housing, that may be leased or rented as a private dwelling, abode or place of residence and who receives or solicits a fee or other valuable consideration from a prospective tenant. See Tennessee Code 62-25-102
(b) Notwithstanding any other provision of this section, if the information concerning rentals furnished by the rental location agent is not current or accurate in regard to the type of rental desired, the full fee shall be repaid or refunded to the prospective tenant upon demand.
(c) The contract or receipt furnished to the prospective tenant shall also conform to rules and regulations adopted by the real estate commission designed to effect disclosure of material information regarding the services to be provided to the prospective tenant.
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