As the owner of a rental home, should my property manager give me a copy of a lease agreement with a tenant?
October 23rd, 2010 | by admin |I always receive the monthly receipt for rent received, but should I also be getting a copy of the lease agreement between the realtor and the tenant?
Although the entire point of hiring a property manager is to absolve you of the time-consuming responsibility of dealing with tenants, it is always a good idea for you to have a copy of all legal documents as a checks and balances rule. If your property manager is not doing a proper job, you are not going to know if you give her full rein of everything.
Basically, you are the owner; you are entitled to however much (or little) paperwork you want. I would suggest you retain a copy of all legal documents (ie leases, receipts, addendums, acknowledgements), just in case.
6 Responses to “As the owner of a rental home, should my property manager give me a copy of a lease agreement with a tenant?”
By gardenoflia on Oct 23, 2010 | Reply
Yes. Just ask for a copy.
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By Where's my scooby snack? on Oct 23, 2010 | Reply
This is a good idea, although the lease agreement between you and your tenant is more important.
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By John on Oct 23, 2010 | Reply
Yes, Because if something should happen to your agent you need to know the terms of the lease. If you have to make a change of your realtor for any reason you are responsible for the property. You own the property. The realtor is not an attorney and they can not represent you in a contract dispute that requires court action. This may sound off the wall, but I do get all copies of my documents. My attorney just died. He was a great lawyer and a good guy. My point is the court can only help you so much if you don’t have your paper work, you are at fault. Quite possibly out of luck. Cover your a– you get my meaning
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By savvy61 on Oct 23, 2010 | Reply
if you want a copy, just ask – they should just send it to you
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By Classy Granny on Oct 23, 2010 | Reply
As the owner you are entitled to anything you ask for. If your having problems I’d fire your manager and hire a new one.
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By cowgrl on Oct 23, 2010 | Reply
Although the entire point of hiring a property manager is to absolve you of the time-consuming responsibility of dealing with tenants, it is always a good idea for you to have a copy of all legal documents as a checks and balances rule. If your property manager is not doing a proper job, you are not going to know if you give her full rein of everything.
Basically, you are the owner; you are entitled to however much (or little) paperwork you want. I would suggest you retain a copy of all legal documents (ie leases, receipts, addendums, acknowledgements), just in case.
References :