Leases of Tenants

ShedStuff

How long does your facilities keep their tenant leases?

ESS

We hold on to all paperwork for at least 7 years before shredding.

dbudgen

As long as they're in the unit and 7 years after.

Orkocean

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.

teamcapitola

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.