Registration is the official commitment by a property owner to pay a fee to an agency. It is made by the owner to an agency when the agency fulfills the requirements for Registration under the terms of the agency agreement or guarantee letter. Usually the agency is required to physically bring a competent representative of the potential tenant to the property for a showing or give a formal presentation of the property to the potential tenant together with the landlord’s representative. Such a presentation may take place at the owner’s or potential tenant’s office.
The Registration generally remains valid as long as the potential tenant is actively considering the property. In most cases this means that if there is no substantial activity with the potential tenant for three months then the Registration expires.