Landlords, Be Careful with Keys!
Last month, we listed 5 questions every landlord should ask prospective tenants (
read here). If things go well you'll find the right tenant for your rental property. So, when is the right time to give a new tenant the key?
A key indicates the tenant has possession to a property. It is likely for a landlord to give a key prematurely. It is highly recommended to wait give the keys until the following have been completed:
1. Application of rent has been reviewed and processed.
2. All parties have signed a rental agreement.
3. Tenant has given all monies, including rent and security deposit.
4. Tenant has provided a certificate
of liability insurance (for commercial spaces).
