Lease clause for Vouchers

[Anl Gupta]

Hi Everyone

I am thinking of getting a lease for someone who is going to pay initially based on a voucher from a state agency. Here is trick, the rent and deposit is not paid until about two weeks into lease. So do I have a good lease if I put a clause that after 2 weeks, lease is contingent upon "getting voucher based funds"  or else tenant can pay and continue.  Or not? Is there anything else I should add to lease?

Thanks for sharing your insights

Anl

[Thomas S.]

Do not ever do what you are contemplating. Your lease will do nothing to insure you get paid. Landlords never hand over keys without collecting all monies owed up front and in cash.

Make the tenant pay in full and he will be reimbursed when he receives the voucher. Any tenant that does not have the required cash up front (first month, last month, damage deposit) is a high risk applicant that should be rejected.

Your screening process needs to be seriously tightened up to insure you maintain a standard that insures not only tenants that can afford to pay but also ones you can collect from when they stop paying.

You need to rethink your business plans.