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Updated over 9 years ago,

User Stats

367
Posts
78
Votes
Arthur Banks
  • Real Estate Investor
  • Waukegan, IL
78
Votes |
367
Posts

Receiving 1st month weeks before lease start date

Arthur Banks
  • Real Estate Investor
  • Waukegan, IL
Posted

My current tenants are moving out 6/27/15, their words, "to allow me time to get ready for the new tenant" (nice of them) which is scheduled to move in 7/1/15. They've been very good tenants and I don't suspect I will have much if anything to clean or repair. Fingers crossed.  I'm scheduled to meet the new tenant 6/20/15 to get 1st months rent (I already received the "hold fee", which will become the security deposit). She says she just wants to get it out the way now. 

My question is since I'd be receiving July rent should/could I A) have her sign lease dated for that day but effective 7/1/15 B) wait until July 1 to receive rent and sign lease or C) don't take rent and wait until July 1 to sign lease and give possession?  Has anyone run into issues with receiving 1st mo rent before signing lease and actual start of tenancy?  

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