 How long to store leases (by Pamela Doyne [AR]) Feb 13, 2019 11:11 AM
 How long to store leases (by S i d [MO]) Feb 13, 2019 11:23 AM
How long to store leases (by Robert J [CA]) Feb 13, 2019 5:27 PM
How long to store leases (by razorback_tim [AR]) Feb 13, 2019 6:02 PM
How long to store leases (by fred [CA]) Feb 13, 2019 7:40 PM
How long to store leases (by fred [CA]) Feb 13, 2019 7:41 PM
How long to store leases (by BRAD 20,000 [IN]) Feb 14, 2019 1:32 AM
How long to store leases (by WMH [NC]) Feb 14, 2019 4:50 AM
How long to store leases (by Live The Dream [AZ]) Feb 14, 2019 1:41 PM
How long to store leases (by don [PA]) Feb 15, 2019 1:42 PM
How long to store leases (by Ray-N-Pa [PA]) Feb 19, 2019 6:37 PM
How long to store leases (by Pamela Doyne [AR]) Posted on: Feb 13, 2019 11:11 AM
Message:
After tenants move or being evicted from your properties how long do you need to keep or store their paper work (applications, leases, etc.)? --174.53.xx.xx |
How long to store leases (by S i d [MO]) Posted on: Feb 13, 2019 11:23 AM
Message:
Two different schools of thought here.
You may not NEED to store them 1 day after the lease ends. 99% of the time nothing bad ever happens.
I think it is WISE to keep them for anything that could potentially come back to bite you. Deciding on a time-limit would require you to research the statute of limitations for anything that could be brought as a result of a housing issue. How much time and effort would that take vs. how much do you spend on a 4 drawer filing cabinet that you stick in a basement or garage corner and how much effort to simply store a copy of a lease there? Or do like me and scan them all to digital format, then you can store them forever on a device the size of your pinkie finger that costs about $20.
I've been a land lord since 2005, and I still have every lease I've ever done: paper and electronic copies. Your mileage may vary. --173.20.xxx.xxx |
How long to store leases (by Robert J [CA]) Posted on: Feb 13, 2019 5:27 PM
Message:
Let's see. The IRS can go back 20 years and if you can't prove who your tenant was and the amount of rent they paid, you can be taxed for what the "Market" rent was at the time. Plus a tenant can sue you on a written contract from 2 to 4 years. So I'd keep your paperwork for a LONG TIME. --47.156.xx.xx |
How long to store leases (by razorback_tim [AR]) Posted on: Feb 13, 2019 6:02 PM
Message:
In AR I would keep them at least 5 years. That’s how long you or they have to file legal actions regarding the lease. --70.178.x.xx |
How long to store leases (by fred [CA]) Posted on: Feb 13, 2019 7:40 PM
Message:
I have every lease from the beginning - that's 1976.
--99.59.x.xxx |
How long to store leases (by fred [CA]) Posted on: Feb 13, 2019 7:41 PM
Message:
That's why my garage is a mess. --99.59.x.xxx |
How long to store leases (by BRAD 20,000 [IN]) Posted on: Feb 14, 2019 1:32 AM
Message:
Pamela,
Pay a teenager to scan them.
If you are not up on technology, are they using up too much space? Every business needs SOME storage space.
In MY state the old res can file lawsuit within 2 years.
And occaisionally we get calls for referrals (rare) and former residents come back. Nice to oull their file and review how they performed.
BRAD. --73.102.xxx.xxx |
How long to store leases (by WMH [NC]) Posted on: Feb 14, 2019 4:50 AM
Message:
I have everything. I see no need to throw them away. And these days many are digital so take up no physical space anyway. --50.82.xxx.xx |
How long to store leases (by Live The Dream [AZ]) Posted on: Feb 14, 2019 1:41 PM
Message:
I threw out about six boxes of leases a couple weeks ago. I no longer own any of the properties. I hope nobody is going to sue me. If they do I guess we will negociate out in the desert... I paid my taxes, and paid and pay. I have no insurance claims. I'm tired of looking at crap, I don't want to leave my spouse a mountain of clutter after I kick the bucket, and I'm taking my warehouse back!
I have to keep security student and police qualification records for 5 years, so I'm pitching those as they age out. I don't need to keep records on civilian students so those all got pitched too.
I even threw out thousands of "tear sheets" of old published photos from my journalist days over 20 years ago. I used to keep like 25 copies of my magazine covers and news articles to mail on potential jobs. Next to go is 4 filing cabinets filled with sheets of film, 99% of which are unsellable outtakes.
My best magazine covers and articles are displayed in my office and the hall of my house. I have the good ones in multiple portfolios in case I have to go job begging when I'm 80... And I have copies of nearly all my published stuff on slide film.
I suppose I could have scanned it all, to add to our boxes of obsolete cyber clutter and old floppy disks. Remember Zip disks? I have like 50! And no way to read them. All that stuff is going to the dump too!
--47.216.xx.xxx |
How long to store leases (by don [PA]) Posted on: Feb 15, 2019 1:42 PM
Message:
If you evicted someone then you got a judgment against them. Judgements can be renewed. Courthouses do not keep records forever, so don't depend on them. How would you feel if you learned that the tenant that screwed you over 20 years ago is now living high on the hog, but you cannot enforce your judgment because you tossed all the records away? --70.90.xx.xxx |
How long to store leases (by Ray-N-Pa [PA]) Posted on: Feb 19, 2019 6:37 PM
Message:
I can't tell you the legal answer.
I can tell you, I hold on to them for seven years after they move out though......and I have never needed them after about a year or so. I occasionally get a call asking how someone was. I typically don't need the lease since I have software that does all the talking --72.23.xxx.xx |
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