Allowing Early Access To Tenant?
I have a potential tenant who wants to start moving boxes and other items into the garage before the lease actually starts.
I am inclined to agree because the property is empty but is there anything I need to be aware of? Does allowing a tenant access to the garage before the lease create some kind of legal claim to the property?
Any thoughts on if this is a bad idea? What are the ramifications?
Thanks,
JS.
Helllo???
Moving someone in with no lease agreement? What happens if something goes wrong? You have no legal protection. If they want to move in boxes early, make them sign a lease and prorate the rent.[ Edited by d_random on Date 07/20/2007 ]
No way! Absolutely not! They would officially be considered the tenant, giving them that legal protection and you would get all the risk for nothing. Just my opionion.
I have done this several times already and have had deposit money in hand and have not had any issues. I just trust my gut - may have not been the smartest thing to do but never had a problem. I see people do different things in this business. May seem unconventional to some, but seems to work for them. I know a lady who has investment properties and NEVER does background checks and has never had to evict a tenant, nor had a tenant stiff her in over 10 years.....go figure. Maybe she is just lucky??
I like that royal fortune -- may be something I might borrow
I guess different strokes for different folks. I like to establish a "relationship" with my tenants. I view it as a regular business would its "customers". I treat them well and in return I trust that they will treat my property well. I try to view my tenants as people - good people that will do the "right" thing as opposed to always being guarded that they are out to screw me. That does not mean I will always do special favors for them nor that they ask. Its just that building that relationship allows them to see me as a person who is not much different than they are, and somehow we end up with mutual respect for each other. I think it has the same affect as when you deal with someone face to face - as opposed to via phone or email. So far so good....just seems to work out better for me that way.
1. Thank goodness the guy that was selling me my current primary let me do it since I was selling my home 1 mo. before he could let me settle on his. I offered money but he would not take it. I appreciated it.
2. For rental = It depends what you have done. IF you have a signed lease and security deposit, why not?
If Not, No Way.
3. I work out all kinds of win/wins with my tenants. I pro-rate for days, I give freebies, I allow certain reasonable access. But ALWAYS with a signed legal agreement (lease), clearly stated details, and payment for the next required rent.
DO NOT allow storage without signed lease agreement.
Hey there,
I just bought a 2-flat a couple of months ago in the south side of Chicago. It is not necessarily where I would feel safe at night but I make repairs to the building and the tenants are both section 8. Their rent is paid 100% by the housing authority and it is great. One thing section 8 renters have going for them is they are getting something for nothing and they are generally going to try to keep their end of the deal up. If not and they get evicted then they may be at risk of losing their voucher (free rent) so they may work a little harder to be a good tenant. I would recommend trying it out. Good luck.