Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 4 years ago on . Most recent reply

User Stats

83
Posts
23
Votes
Vinh Nguyen
  • Rental Property Investor
  • Philadelphia, PA
23
Votes |
83
Posts

Should tenant pay first before we send the signed lease?

Vinh Nguyen
  • Rental Property Investor
  • Philadelphia, PA
Posted

Hi all!

I am new to this landlord thing. I am requesting the tenant to pay the first month rent, last month rent, and the security deposit. My question is do I request the tenant to pay the fees first before I send her the lease with my signature or vice versa? please advise.  

Most Popular Reply

User Stats

22
Posts
42
Votes
Replied

I wouldn't send out a lease with a signature. They could take that lease and sign it and show up and get a locksmith and move in. I've had people try all sorts of stunts over the years. I had this one potential tenant who went through a complicated process required by the HOA. After she was approved she showed up to move in. I had not provided her with a signed copy of the lease at that point. I take cash only for the first month and security deposit. Or a check 21 days in advance. She wanted the keys but said her mother was paying so I contacted the mother. The mother stated that since I had advertised on Craigslist there was some doubt as to whether I owned the unit or not. I asked her why she hadn't checked the property records but she stated that wasn't enough. She wanted me to let her daughter move in as a sign of good faith and I simply hung up at that point because she was obviously a scammer. The daughter then called me back and started screaming about me hanging up on her mother and I hung up on her also. Two weeks later I rented it to someone else who ended up staying for 3 years. Always get the funds up front. If they have a signing issue they can sign and overnight the docs at their expense. Without secured funds and especially now, you're screwed. Don't take a check without proper clearance times.

Loading replies...