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Updated almost 3 years ago on . Most recent reply

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Sam Kemper
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Tenant Contract questions

Sam Kemper
Posted

Hello,

I’m currently in the process of getting my rental going. I have a potential tenant who is interested in the property and she is willing to pay the entire year lease up front. I was just wondering if anyone has had experience with this. My fear is what if something happens mid lease and I have to evict the tenant. Is that an issue? Would I refund the tenant? Would they have more control since they paid up front? Any information would be helpful. 
thank you 

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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
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Nathan Gesner
  • Real Estate Broker
  • Cody, WY
ModeratorReplied

What is her motivation for paying a year up front? It's typically a red flag. Many applicants will offer to pay large sums up front so you'll get excited and skip the screening process. Be careful.

If they break the lease early or you have to terminate/evict them, you would have to pay back any unused portion (based on when new tenant takes over).

I let people pay up front, but only after I've screened / approved them, just like any other applicant.

  • Nathan Gesner
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