Tip #2

Always get it in Writing

Written on July 19, 2012 by , updated on June 5, 2014

signature-writingNo matter what, any agreements that you make with a tenant should be put in writing.

This applies to leases, addendums, amendments, and the most basic of promises.

Your rental property is a business, with real money and equity involved – so treat it that way.  

Leases should ALWAYS be a signed written document/contract – no exceptions. For everything else, some sort of signed paper is best, but a thread of emails also works well.

Verbal leases and agreements are valid but difficult to prove in a court of law. If you have to make a verbal agreement, use your phone to record the audio conversation. It’s sad to say that a handshake doesn’t mean as much as it use to.

photo credit: LOSINPUN via cc
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