What is the usual timeline for lease signing and first payment? : ezLandlordForms

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What is the usual timeline for lease signing and first payment?

Ed T

started a topic almost 10 years ago

I have a property with a move in date that is about one month in the future. Let's say that today I finish checking my rental applications and choose a renter. When do I give the renter a copy of the lease? When do I meet with the renter to have them sign the lease? When do I collect and deposit the first month's rent and place in my account? Can any of these items be done today? Or should it happen closer to the move in date. I'm curious to know what the typical procedure is.

1 Comment

David C

said almost 10 years ago

You can do all of those things when you want, typically you would collect security deposit and other expenses at the lease signing. But you can collect security and have the lease signed sooner and have other payments collected when you exchange keys.