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Leases of Tenants

ShedStuffShedStuff NARegistered User ✭✭
How long does your facilities keep their tenant leases?

Comments

  • ESSESS TXRegistered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭
    We hold on to all paperwork for at least 7 years before shredding.
    Angela Reyes
    www.rentess.com
  • dbudgendbudgen CARegistered User ✭✭✭
    As long as they're in the unit and 7 years after.
  • OrkoceanOrkocean CARegistered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭
    7 year retention policy is the standard, same for most businesses so you get doctors/lawyers nearby who will store with you for their files.
  • teamcapitolateamcapitola CARegistered User, Daily Operations Certified, Advanced Operations Certified, Administrator Certified, myHub Certified ✭✭✭✭✭

    I sent the exact same question to the SSA Legal Network. Mind you I'm in California so I have no idea if its different in other states.

    These were the two responses.


    1. My approach on this is to keep the files at least 2-3 years on regular (no-issue) tenants. But anything with a damage claim or a sale would need to be kept 4-5 years


    2. 3 or 4 years is long enough. 2. 6 years after the lien sale. 3. B.I. incidents - 3 years except when minor involved, then 2 years after 18th birthday. Property damage (gate hits car etc) 4 or 5 years.

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