How to Establish a Sight Unseen Lease

How to Establish a Sight Unseen Lease

There can be value of offering sight unseen rental properties, should you find yourself in this scenario. You may need to consider if you are willing to sign a lease with a qualified prospective tenant who hasn’t seen the house in person.

At the same time, there are unique challenges and liabilities that are created and this is probably the reason why many companies do not allow this practice. However, you may not want to completely shut the door to this possibility.

4 Steps to Establishing a Sight Unseen Lease

1.  Do the Application, Background Check, and Credit Check: Do our application, background check, and credit check online. Have your applicants scan or take pictures of their licenses and email their pay stubs.

2. Send a Copy of the Lease: Next, email the potential tenants the lease. After they have had a chance to read through it, go through it step-by-step with them so there are no issues later. Also have them fill the lease out in their handwriting. This helps make sure they notice and acknowledge all the nuances.

3. Add a Sight Unseen Clause and/or a Buy-Out Clause to the Lease: This sets expectations from both sides and protects you in case the tenant doesn’t move in or decides to change their mind.

4. Ask for a Deposit: Require the funds be posted before the tenant arrives.

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