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ForumsArrowGeneral Landlording & Rental PropertiesArrowLength of lease - discrepancy
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Length of lease - discrepancy

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  • Posts 4
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Dianne Cooper
from Cedar Park, Texas

posted over 3 years ago

I hired a realtor to list my first single family rental house.  A week later, he texted me that he found a client, screened her, and she is ready to sign a 10-month lease.  I agreed via text, but when he sent me the lease agreement today, the dates of occupancy are August 22-May 31.  I have already deposited a cashier's check to cover the security.  Am I obligated to sign the lease agreement, even though it's for only 9 months and 9 days, and go ahead with the deal?  I feel like this realtor, who was recommended to me, does not have my best interest in mind.

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Thomas S.

replied over 3 years ago

What is your concern over the length of the lease. It has zero bering on how long a tenant will stay.

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Dianne Cooper
from Cedar Park, Texas

replied over 3 years ago

I guess it boils down to I don't trust the realtor.  The property was listed for a minimum of 12 months, so I was surprised he even brought me this tenant.  Agreeing to 10 months was a big decision for me.  Thank you so much for your response.  Maybe I just need to stop overanalyzing everything.

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Kenneth Garrett
Investor from Palatine, IL

replied over 3 years ago

@Dianne Cooper

Here is a thought process.  I know quite a few landlords try to time the expiration of the lease so they are in the hot market time for find a new tenant.  If your market base is families with children you want to be able to beat the start of school.  I  think when he brought the perspective tenant on a 10 month lease you should of had a conversation at that time.  How long was the property on the market?  If it had been a while then it would make sense to move ahead even though it wasn't 12 months. 

Good Luck.     

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Dianne Cooper
from Cedar Park, Texas

replied over 3 years ago

My property was on the market less than two weeks.  In the future, I will be finding and vetting my own tenants.  This is all new to me, and I'm learning as I go.  Thanks for your thoughts.  I am so impressed with this forum!  It has been very helpful.

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Andy Wu
Rental Property Investor from Columbus, OH

replied over 3 years ago

I think realtor is doing you a favor. May 31st is the best time to find new tenant. 12 month lease from now is a bad choice.

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Mindy Jensen
BiggerPockets Community Manager from Longmont, CO

replied over 3 years ago

@Dianne Cooper , check out the very helpful Tenant Screening Guide from Brandon Turner. It is filled with great tips you didn't even know to check on. 

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Dianne Cooper
from Cedar Park, Texas

replied over 3 years ago

Thanks, Mindy!  There are so many useful resources on this website.  I'm learning so much.

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