Anyone using iPad to sign leases with their tenants?

Question

Hello all,

I just purchased an iPad and I am thinking of using it to have all my new tenants sign leases on iPad. Is anyone out there using iPad to sign leases with their tenants? What is the drawback of doing that? Any legal issues? Can my tenants question the legality of the lease signed on iPad?

I will really appreciate some input.

Kyle Meyers · Answer

I just used EchoSign to sign a lease amendment with my tenant, it worked great. I did not use an iPad, just emailed them the document through the EchoSign system, and got back a signed pdf a few minutes later.

Joe O · Answer

1) Yes

2) To the extent and percent that you use it for business.  Consult your CPA.

Steve P. · Answer

Does the Kindle Fire have the same capability?

Can the landlord-owner deduct the cost of the ipad from his/her taxes?

Bryan Middleton · Answer

I think this question has been answered already, but I thought I would just throw this in. Many people on my team and business partners use the Ipad to sign documents now. Paper and pen is old school. I will send a quick email to my lawyer and see what he has to say. keep you posted

Nick J. · Answer

This article can easily relate to our investments as well.

http://www.aaronline.com/azr/2011/october/using-the-ipad-for-real-estate-business-part-1.aspx

Last paragraph is really the only one I believe we would care about. The apps that deal with signatures on the iPad.

Sharad M. · Answer

So, I had a tenant moving in today and after going back and forth, I decided to use an iPad to sign the lease. The tenants didn't seem very surprised and actually liked the idea. The whole process went by very smooth. Much better than keeping a paper lease. I had all the lease documents saved on my iPad including the lease, disclosures, move-in/move-out checklist, etc. After the lease was signed, I emailed them the lease for the reference and have asked them to send me an email acknowledging the receipt of the lease.

At one of the local REIAs meeting this week, we have a real estate attorney coming who will be discussing the general land lording issues and I will ask the attorney at the meeting what are the pros and cons of having a lease signed on an iPad.

I will keep BP updated with what the attorney says.

Kyle Meyers · Answer

Do some research and ask an attorney, but I believe there are federal laws which ensure an electronic signature is equal to a pen and paper signature. I don't know if there are any limitations to these laws or what agreements they apply to though.

Bradley Glaves · Answer

We use Docusign and have gone nearly paperless. www.docusign.com  This also eliminates missing initials or sending the document around to a series of people.

Good luck, Brad

Ann Bellamy · Answer

I'm all about reducing the workload, but if it's not mainstream adopted yet, it could be a LOT more work if the tenant disputes it, and you happen to get a judge who is tech-averse. I'd stay with pen and ink, until it becomes more readily accepted.  Which I think will be fairly soon.

Just my 2 cents

Sharad M. · Answer

Joe,

Thanks for the reply. My main reason for doing this is because I am not a fan of admin work. Using an iPad will reduce the amount of admin work, but of course I will only use it if there are no risks attached with it.