the dangers of no lease

wrong forum sorry

 

With no lease, they can leave with 1 or 2 weeks notice, but you would have to give a few months notice. ( depends on state.) They could leave at a time when it is hard to get new tenants for a few weeks etc


Without a lease, you can not have special terms...

What happens if extra people start living at the house and they cause damage. Who is liable for the damage?

Normally when a lease is done , the ID of all adults are recorded .
Like full ID for debt collection purposes.

So what happens if you have no lease, do you have tenants full ID to chase them up if they stop paying rent for a few months.?
Or they cause more damage than the bond?


Also have you seen their tenant ledger to ensure they are up to date with rent and are NOT always behind.
Ask the vendor for a copy of tennet rental ledger.


On a side note , you need a agreement with the managing agent ?
ie monthly fee and what does that include.
and also do they add a extra charge on any bills they pay or work they request ( like maintenance / breakdown jobs etc )

This is only some of the things that could go wrong....

 

With no lease in place the company who ever you have landlord insurance with -as that's one on the first questions they will ask ,would tell you your not covered for anything ..