I had a tenant ask if I would device their lease into to leases? Basically he's trying to get rent assistance and my the rent is to high for him to qualify. So he is asking that I sign two leases with him. One for $750 and one for $175 toake up the total $925 monthly rent. That way he can take the $750 lease to them and get funding assistance. I'm am open to any thoughts or problems you see with this ?
You got to be kidding. You should have a clause at the bottom of the lease:
- The agreement supersedes all prior agreements.
You can NEVER have two concurrent agreements for the same property. ANY flaw will invalidate BOTH.
Sounds like a section 8 and there's still one agreement with full rent.
Seems like Federal fraud...so....I wouldn't do it..no.
You're lying for him to receive a federal subsidy. He doesn't qualify because rent it too high. The end.
Dont bend over to pick up the soap when you shower .
Ben,that is a criminal offense on both his and your part.You are attempting to defraud the government of tax dollars and you will be prosecuted when it is discovered eventually.Tell them no and leave it at that.
Thanks for all the imput. You all agree with what I was thinking and I appreciate the feedback. I am grateful for all experienced investors helping me out. Never know what your going to run into with tenants
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing