The increased rent is a good sign. 

I signed up with Biggerpockets over 10 years ago when it was free.

Quote from @Stuart Udis: @Satyajeet Dodia  Who signed your lease if not the deed holder and no a contractual relationships is not necessary to be sued. 

I went back over the paperwork we signed.

They signed a lease for 99 years and it's assumable.

First, the tenants signed a legally binding contract and do not just get to walk away on a whim.

So you may not NEED a lease signed for your primary residence already, especially since that's a lot of stress to find a new tenant and have a lease in place while you're under contract on another home.

@Matt B.Thanks for signing up for our Beta and feedback!

Then there's misaligned incentives players in the construction industry may make more money the longer a project takes to get completed. 

Either way, do not sign a 12-month lease.