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Updated over 10 years ago on . Most recent reply

Mark Alphonse's profile image
Mark Alphonse's profile image
Mark Alphonse
  • Investor
  • from Vermilion, Ohio
  • Member since Dec 15, 2014
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Mark Alphonse's profile image
Mark Alphonse's profile image
Mark Alphonse
  • Investor
  • from Vermilion, Ohio
  • Member since Dec 15, 2014
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Mark Alphonse
  • Investor
  • Vermilion, OH
5
Votes |
20
Posts
General Landlording & Rental Properties

No lease?

Mark Alphonse
  • Investor
  • Vermilion, OH
Posted

I came across an interesting Duplex that would appear to be cash flowing well however I was told that both units are occupied but have no lease or deposits. Is this a recipe for disaster? If you were interested how would you proceed?

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Jeremy Shepherd's profile image
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Jeremy Shepherd
  • Rental Property Investor
  • from New Martinsville, WV
  • Member since Dec 2, 2012
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Jeremy Shepherd's profile image
Jeremy Shepherd's profile image
Jeremy Shepherd
  • Rental Property Investor
  • from New Martinsville, WV
  • Member since Dec 2, 2012
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Jeremy Shepherd
  • Rental Property Investor
  • New Martinsville, WV
44
Votes |
105
Posts
Jeremy Shepherd
  • Rental Property Investor
  • New Martinsville, WV
Replied

I just bought a house that had tenants month to month with no lease. I made them sign a new rental agreement with me.  The rental agreement is for your protection and their's. 

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