 asking for lease? (by Dan [NY]) Feb 13, 2019 6:34 PM
 asking for lease? (by Ken [NY]) Feb 13, 2019 6:37 PM
asking for lease? (by Dan [NY]) Feb 13, 2019 6:56 PM
asking for lease? (by Ken [NY]) Feb 13, 2019 7:11 PM
asking for lease? (by Libi [NY]) Feb 13, 2019 7:14 PM
asking for lease? (by DJ [VA]) Feb 13, 2019 7:27 PM
asking for lease? (by Robert J [CA]) Feb 13, 2019 8:17 PM
asking for lease? (by razorback_tim [AR]) Feb 14, 2019 4:15 AM
asking for lease? (by David [MI]) Feb 14, 2019 4:19 AM
asking for lease? (by NE [PA]) Feb 14, 2019 4:46 AM
asking for lease? (by NE [PA]) Feb 14, 2019 4:51 AM
asking for lease? (by rentON [PA]) Feb 14, 2019 4:58 AM
asking for lease? (by S i d [MO]) Feb 14, 2019 5:21 AM
asking for lease? (by Rich [PA]) Feb 14, 2019 5:30 AM
asking for lease? (by Oregon Woodsmoke [ID]) Feb 14, 2019 7:11 AM
asking for lease? (by cjl [NY]) Feb 14, 2019 10:35 AM
asking for lease? (by LindaJ [NY]) Feb 14, 2019 11:51 AM
asking for lease? (by Gene [OH]) Feb 14, 2019 12:13 PM
asking for lease? (by 6x6 [TN]) Feb 14, 2019 5:41 PM
asking for lease? (by Dan [NY]) Feb 14, 2019 6:05 PM
asking for lease? (by Nicole [PA]) Feb 15, 2019 5:11 AM
asking for lease? (by Dan [NY]) Posted on: Feb 13, 2019 6:34 PM
Message:
I have a potential showing asking for lease prior to seeing property. Also, asking for a five year lease. I find this a bit strange. Thoughts on this? --107.242.xxx.x |
asking for lease? (by Ken [NY]) Posted on: Feb 13, 2019 6:37 PM
Message:
I don't have a problem with someone wanting to see the lease up front but in NY a residential lease cannot be any longer than 3 years --72.231.xxx.xxx |
asking for lease? (by Dan [NY]) Posted on: Feb 13, 2019 6:56 PM
Message:
What law are you referencing regarding three years? --107.242.xxx.x |
asking for lease? (by Ken [NY]) Posted on: Feb 13, 2019 7:11 PM
Message:
I have always been told that a lease could be no more than 3 years in NY,speak to your attorney to get specifics but that is what I have heard from my attorney for years --72.231.xxx.xxx |
asking for lease? (by Libi [NY]) Posted on: Feb 13, 2019 7:14 PM
Message:
I was looking for the terms and can’t find any.
Can you point it out?
We got a tenant with the building and he was telling that he has 5 years lease. --74.90.xx.xxx |
asking for lease? (by DJ [VA]) Posted on: Feb 13, 2019 7:27 PM
Message:
Don't know about NY law regarding lease length, But:
I think prospect wanting to review a lease in advance is a good sign - that they actually want to read what it says. If they don't like it, you don't spend your time on them --68.10.xxx.x |
asking for lease? (by Robert J [CA]) Posted on: Feb 13, 2019 8:17 PM
Message:
Some creative squatters take your lease, fill it out and claim tenancy. When a person asks to see my lease, I tell them that's only after they've seen the rental, filled out an application and presented me with the documents needed to process their application. The "sample" lease I provide has a Large Red Marker crossing out the lease saying, "Sample Only". --47.156.xx.xx |
asking for lease? (by razorback_tim [AR]) Posted on: Feb 14, 2019 4:15 AM
Message:
I don’t have a problem with someone reviewing the lease before signing it. But asking to see a copy before they view the unit or apply is a little odd. The only time I’ve had this happen I was able to definitively determine it was another LL just wanting to get my lease-option paperwork. --166.137.xxx.xx |
asking for lease? (by David [MI]) Posted on: Feb 14, 2019 4:19 AM
Message:
I always give approved applicants a copy of their actual lease marked SAMPLE, prior to lease signing. They can print out and review with their attorney if they wish.
BUT, I will not give my lease out to same rando before they have even seen the house. If they have questions , I explain various lease terms verbally.
--199.247.xx.xx |
asking for lease? (by NE [PA]) Posted on: Feb 14, 2019 4:46 AM
Message:
I would be more concerned about him wanting a five-year lease. My original thought on this is that he wants to scour that lease to see if you prohibit him doing something that he wants to do and then he wants to lock you in for five years and do whatever that might be. I may be off the mark, but his requests are so uncommon that they're almost flags in my opinion. I would probably tell him no to getting a copy of the lease and No to a five-year lease. And tell him that he's welcome to renew each year and that he can have a copy of the lease after the application has been approved. Or even with the application. I just feel like he's up to something. --50.107.xxx.xx |
asking for lease? (by NE [PA]) Posted on: Feb 14, 2019 4:51 AM
Message:
Whatever you decide, don't waver from it. He's already trying to pull you off balance of your normal practices. Just tell him that prospective tenants don't get a copy of the lease until this part of the process. Then once you end up giving him the lease just tell him that this is the lease and it's not negotiable take it or leave it. Just stick to your guns with him and proceed with caution. --50.107.xxx.xx |
asking for lease? (by rentON [PA]) Posted on: Feb 14, 2019 4:58 AM
Message:
What is the advantage for YOU to do a 5 year lease? If there's no advantage for you then why would you do it. --67.165.xx.xx |
asking for lease? (by S i d [MO]) Posted on: Feb 14, 2019 5:21 AM
Message:
I too always give a copy of my lease to APPROVED APPLICANTS. I watermark it with "DRAFT" printed all over the background, though, so there's no way anyone could claim it was an actual lease. Also, the tenant's name on the lease is "NO ONE". That would be funny for someone to claim their name is NO ONE. ;-)
You're in the negotiation stage. But I only negotiate with approved applicants. For now, just say,"We'll see what we can do to accommodate you once we get your application approved."
Be careful and do your due diligence. If these tenants are bad news and you do a lengthy lease, you're stuck with them for a loooong. Absolutely do an in-home inspection prior to signing anything with them. Look, smell, listen. Don't skip this step!
I wouldn't do 5 years, though. If that's a deal breaker, tell them up front. "We're happy to renew your lease each year, as long as everything keeps going well." --173.20.xxx.xxx |
asking for lease? (by Rich [PA]) Posted on: Feb 14, 2019 5:30 AM
Message:
I think NE is spot on with his assessment.....this is not a normal applicant with reasonable expectations. Things do not feel right with this applicant. Do not be snowed by the five year lease promise. In fact, I see it as a red flag. Stay with your normal process - phone or email contact, show property, prospect must complete application and pay application fee. You must pull credit and call past landlords. I'd be extra diligent with requiring an in-home walk-thru. Stick to your one year lease or month to month rental agreement.
As Aldo use to say: The landlord is in charge, not the tenant. --100.6.xxx.xxx |
asking for lease? (by Oregon Woodsmoke [ID]) Posted on: Feb 14, 2019 7:11 AM
Message:
Five years is a long time to be locked in with a tenant who is difficult to work with.
I wouldn't give a copy of the lease to anyone who hasn't viewed the unit and stated that they want to rent it. What is the point of seeing a lease for a unit they haven't seen and don't know that they want?
If, by some quirk of fate, you actually get to the point where this guy applies, screen double carefully, especially make sure you are speaking to his current and prior landlord and not his buddy. There is something off about wanting to lock in for five years. I suspect that he is looking for a place where he can do something not normally allowed and where the landlord can't get him out for doing it. --98.146.xxx.xxx |
asking for lease? (by cjl [NY]) Posted on: Feb 14, 2019 10:35 AM
Message:
I don't know if there is a term limit (if you will) on a lease (indicating more than 3 years). I personally don't think I would accept anything more than maybe up to 2 years only because if something were to happen (legally, taxes, etc) meaning if your costs went up and you can't get them "down" then you are on the "hook" and now at a loss. The government (local, state or fed) could make a law that when you entered into the lease was fine but now three years later it's "illegal" what will you do? Especially if the tenant finds out and says "oh so now I don't need to do this any longer".
As for the copy of the lease - I don't have an issue with someone asking for it to review but if they haven't even looked at the property yet - no thanks. Also, I may print off a SAMPLE and meet them to review it if they wanted. I wouldn't just send it to them.
Obviously, once we sign I do provide them with a copy of it. I do believe that we (in NY) have 30 days to provide it to them after we've entered into the agreement. I typically give them a copy of it the day we sign. --69.201.xx.xxx |
asking for lease? (by LindaJ [NY]) Posted on: Feb 14, 2019 11:51 AM
Message:
I stay away from year leases and do month to month because if the tenant is just plain difficult, I can just give them notice. NO WAY would I want a to be locked into a tenant for 5 years. I don't even know where I will be in 5 years. Will I have to sell for some reason and that would make it difficult.
Don't forget the ELT fee in the lease is really for the tenant to get out. Unless they do something that is not allowed in the lease or don't do something they are required in the lease, then you can't get rid of them... Lets see, does your lease say you can't call once a week for something? --108.4.xxx.xx |
asking for lease? (by Gene [OH]) Posted on: Feb 14, 2019 12:13 PM
Message:
At our local REIA meeting here in central Ohio, an attorney mentioned that any lease over 2 years needed to be recorded because it gave the tenant special rights. So his recommendation was to not have a lease for more than 2 years. --155.188.xxx.xx |
asking for lease? (by 6x6 [TN]) Posted on: Feb 14, 2019 5:41 PM
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Great idea Robert J and others. --73.120.xx.xxx |
asking for lease? (by Dan [NY]) Posted on: Feb 14, 2019 6:05 PM
Message:
Five years is a long time. I released the first section of the lease, not my rider Clauses. --107.242.xxx.x |
asking for lease? (by Nicole [PA]) Posted on: Feb 15, 2019 5:11 AM
Message:
I also wouldn't give the lease to someone who hasn't yet seen the property. Ask him if there is something specific he wants to know about before he "wastes" his time looking at your place. He may just want to know your pet or smoking policy. Why go look at a place that says no smoking if he smokes? He may want to know if you have an early termination policy to break that 5 year lease should he decide to move on.
--72.70.xxx.xx |
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