Why Do Landlords Wait Until Move-In Day to Sign Contract? (apartment, lease)
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I'm honestly curious about this, and have been too lazy to research it. I'd rather hear from live people than read articles on this one, anyway.
I know that it is standard practice for landlords to wait until move-in day to sign contracts with tenants. I'm honestly curious as to why.
In order for my tenants to "hold" an apartment, I require a signed contract. I tell them I'll keep shopping for a tenant until I have a signed contract.
Aren't you afraid they'll slip away and you'll have to start over looking for another tenant? Obviously, there must be a good reason to do things this way. I just don't know what it is.
Thanks for your answers, so I learn something new today .
I wonder if it's more the norm in multi-unit complexes for some reason? I've only ever rented from private landlords on both residential and commercial properties and have always signed the lease well in advance of the move-in date. Likewise as a landlord for many years I've always had the lease signed in advance. I've no idea why anyone would wait until move-in day to commit.
I wonder if it's more the norm in multi-unit complexes for some reason? I've only ever rented from private landlords on both residential and commercial properties and have always signed the lease well in advance of the move-in date. Likewise as a landlord for many years I've always had the lease signed in advance. I've no idea why anyone would wait until move-in day to commit.
It's funny, I applied for a senior housing apt outside of Fresno about a week ago. If they'd asked me to sign a contract, I would have. The apt isn't available yet, but is in a very desirable location in the complex, upstairs and with a view of the foothills, and on the end of the complex, so no nosy neighbors could spy on me when I'm on my balcony. I did send them a $100 holding deposit, and they're doing their credit and referral checks as we speak.
Well, lo and behold, another place called me that is building a brand new facility in Salinas, CA, where I was also on a waiting list, and I have an interview this morning. If they take me, I will not go through with the one in Fresno County.
I asked the Fresno Co mgr if she wanted me to sign a contract when we were doing paperwork, and she said they don't do that until move-in day. I don't get it.
We didn't sign our lease on move in day...we signed our lease on 'signing the lease' day. Two different things; before we could move in we had to have all the paperwork in, all the monies in, proof that the utilities were in our name. Once all of that was done, we could sign the lease and move in whenever we wanted. We happened to have signed on the 7th and our rent was prorated because rent is due on the first. We didn't move in until 6 days later.
It's funny, I applied for a senior housing apt outside of Fresno about a week ago. If they'd asked me to sign a contract, I would have. The apt isn't available yet, but is in a very desirable location in the complex, upstairs and with a view of the foothills, and on the end of the complex, so no nosy neighbors could spy on me when I'm on my balcony. I did send them a $100 holding deposit, and they're doing their credit and referral checks as we speak.
Well, lo and behold, another place called me that is building a brand new facility in Salinas, CA, where I was also on a waiting list, and I have an interview this morning. If they take me, I will not go through with the one in Fresno County.
I asked the Fresno Co mgr if she wanted me to sign a contract when we were doing paperwork, and she said they don't do that until move-in day. I don't get it.
What happens to the $100 if you choose not to take the place? Most places will keep it if you're approved and then turn the unit down.
As for the second place, I doubt they expect (demand) that you move in on the day you sign your lease. I'm not understanding why you'd sign a contract up front without knowing if you're approved or not. If you're really that concerned, bring it up in your interview. I hope you get the place you want..good luck
I tell you another thing I dont understand. In the Housing Authority here you have 3 Days from signing lease to move in Have beds set up & curtains. I dont get it??
I tell you another thing I dont understand. In the Housing Authority here you have 3 Days from signing lease to move in Have beds set up & curtains. I dont get it??
Really? huh. I wonder why...that does seem a bit odd, but I'm sure they have their reasons. Then again, this is the govt....never know what you're gonna get.
It's funny, I applied for a senior housing apt outside of Fresno about a week ago. If they'd asked me to sign a contract, I would have. The apt isn't available yet,
Say that they had you sign the rental contact and they signed too. But the apartment isn't ready yet. They go to clean it and suspect that unit was used for meth cooking. Noticeable stench in every room. The authorities say that unit is chemically contaminated and uninhabitable until thoroughly detoxified, if possible. There is no way they could make it ready by your move-in date. (They might have to just turn it into a model unit).
Yet, they signed a legal contract saying they would provide you with that unit in a certain condition on a specific date. Now you are left essentially homeless. They might have to give you a much nicer place that you approve at the same contract amount. That could cost them thousands every year.
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If you're really that concerned, bring it up in your interview. I hope you get the place you want..good luck
