Posted by WaynePa on January 29, 2002 at 11:02:48:
Bryan as a new owner I don’t see why not. Actually for your protection I suggestion it. It can even be a month-to-month lease. There are, of course, higher authorities on this board who can and hopefully will answer this question for you.
My .02
Wayne
month by month rent to a lease - Posted by bryan
Posted by bryan on January 29, 2002 at 09:50:40:
if tenants are paying rent month by month and have no lease can a new owner have them sign a lease?
Re: month by month rent to a lease - Posted by GL(ON)
Posted by GL(ON) on January 30, 2002 at 20:11:11:
This comes up all the time when buying rental property and getting a mortgage because the lender requires leases to prove the rent and occupancy.
You just ask the tenants to sign the lease. The seller usually handles this, which he will do if he wants to sell, but I make him use my leases.