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Author Topic: Lease agreement  (Read 4131 times)

yelena

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Lease agreement
« on: December 15, 2004, 09:42:16 am »
We have renters right now and I am affraid that they will stop paying and we won't be able to evict them during winter because they have 3 kids.
We checked their credit history, referals and work place (and sallary) and everything was ok. But now she is saying that they are going to do bankrupcy.  
I used a lease agreement from Carleton Sheets course.

As I understand that you could prevent "long eviction during winter months" by puting in your lease agreement something like: "I agree that if I am late on my rent payments, me and my family promises to leave the property withing 2 weeks"
Will it work? Or, I would be glad to her what you do to prevent it...

Thank you  :)

Offline tedjr

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Re:Lease agreement
« Reply #1 on: December 15, 2004, 05:07:55 pm »
Howdy Yelena:

What I have read is to have the leases be for more than a year or so and have them end in a summer month. This could possibly help you evict them easier if you wanted to end the lease for some  other reason than non payment.

It is cold in the winter states and folks lose jobs and can not work for many reasons and can not pay the rent. Putting a clause like you suggest will not make the defaultig tenant up and move out on day 14 because it is written in the lease. They are already agreeing to pay the rent or else be in default. What is the law there regarding evictions. Does it have to be a certain temperature before the eviction can be done where the actual tenant is forced out?
Ted P. Stokely Jr

San Antonio, Texas

yelena

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Re:Lease agreement
« Reply #2 on: December 16, 2004, 09:08:44 am »
I think it is a good idea to make your rent finish in summer months.
We actualy have month-to-month lease, do you think it is better to do a lease for like a year or so?

Offline visionary

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    • Visionary Real Estate Group
Re:Lease agreement
« Reply #3 on: December 16, 2004, 09:17:22 am »
I belive here in MN the time frame for "winter eviction" is from Nov. to Feb. I may be off a little but not much. Yes I like to do 1 year leases, it saves me the worry that I might have to find a new renters every month.
Daniel Dawson
www.visionisnow.com - Real estate investing products, foreclosure listings, articles and more!

yelena

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Re:Lease agreement
« Reply #4 on: December 16, 2004, 01:59:46 pm »
thank you, visionary  :)

Offline tedjr

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Re:Lease agreement
« Reply #5 on: December 16, 2004, 07:05:17 pm »
Howdy You Guys:

Having a one year lease will not mean you will have tenants for a year and they will pay the rent etc. Bankers like to see all property with 1 year leases as it makes them feel more secure too. Maybe in upper class and middle property but in low income areas a lease means very little except I can not raise the rent and it is hard to evict for any reason except non payment of rent which is usually the only time.

Choose what ever makes you feel better
Ted P. Stokely Jr

San Antonio, Texas

yelena

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Re:Lease agreement
« Reply #6 on: December 21, 2004, 08:44:27 am »
thank you  :)

 




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