Legal Q&A: How long should we keep old leases?

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Question: How long should we retain old leases at our apartment complex? I have heard two years, is this correct?

Answer:  The statute of limitations (the time one has to bring a lawsuit) for written leases is four years. Therefore, leases should be retained a minimum of four years from the date of the vacancy.

Question: One of our tenants informed me that residential landlords have to replace carpeting every five years. Is this true?

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