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Tax, SDIRAs & Cost Segregation

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Pierce Lovesee
  • Rental Property Investor
  • Oklahoma City, OK
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35
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Electronic Leases in Oklahoma

Pierce Lovesee
  • Rental Property Investor
  • Oklahoma City, OK
Posted Jun 25 2018, 20:36

So, I hate clutter.  The only thing I hate more than generic clutter, is paper clutter... so I became a landlord, since that obviously meant I wouldn’t have to deal with paper. 

I own a couple rentals in Oklahoma City, currently have four leases, and I’m already wanting to throw my small 3 foot high filing cabinet I bought at Walmart in a burning garbage can...including all contents.  

I’m being a little dramatic here, but I’d really like to get paper out of my life entirely. The night-terrors of paper only get worse as plans of expanding my small business become more and more real. I love being a landlord, but paper sucks! I already keep redundant copies of all documents associated to the business online in Google Drive. Is there any legal issue I would run into if I only kept scanned copies of leases electronically, or better yet, only had completely electronically generated and signed documents like real estate agents use?  

I would hate to have my adversion for paper result in my tenants owning my properties or my truck. So are there specific rules I need to follow if I’m having tenants sign documents electronically?  Are the laws specific state to state?  Or are we at the point where electronic signatures can totally stand in place of wet signatures. 

Any advice is greatly appreciated. 

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