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Updated about 8 years ago on . Most recent reply

User Stats

39
Posts
11
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Brandon Cook
  • Investor
  • Detroit, MI
11
Votes |
39
Posts

when should I sign a lease?

Brandon Cook
  • Investor
  • Detroit, MI
Posted

Im just looking for advice. I have a rental property in Detroit I have pretty much finished rehabbing, the only thing not done is that I need to finish painting 1 room. So my question is when do I sign a lease with the tenant I have lined up, when should I take a deposit and when should I let the tenant move in? 

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6,138
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5,084
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
5,084
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6,138
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Brie Schmidt
  • Real Estate Broker
  • Chicago, IL
ModeratorReplied

@Brandon Cook - I sign the lease and collect the deposit whenever they are ready to commit to the property.  First month's rent is due with keys.  As far as move in date, if it is ready I let my tenants move in a little early.  

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