Thread: File Retention

Are there any guidelines for file retention of our tenant files? How long do we have to keep files after a tenant moves out or auction?

Different states have different requirements, but most agree on 7 years.

We keep ours 7 years and then shred everything!

I spend most of January shredding old documents and files.

Hope this helps.

I have my staff keep tenant files for seven (7) years. After each tenant moves out managers are to staple all of their records (lease agreement, addendums,copies of late notices, receipts,certified notices, etc.) together and file them away in a box(es) with the year written on the outside. The boxes are also segmented by month to ease the process if we have to go back and find old tenant file. These boxes are stored in a spare 5x5 until they have been held for 8 yrs and then we shred them all.

Michael