This is a question that you may have asked many times in your career if you are a leasing agent. The answer given by Richard P. was correct and quite succinct. I would add some justification to that. A leasing agent works very hard to provide tenants to a building and often spends a great deal of expense and time in advance. (Often for naught, when a lease does not consummate). As a part of the agent's responsibility they should present to the owner a thorough credit check, along with the results of checking the prospective tenant's rental history. If in doing so, the owner then determines to accept the tenant and enters into a lease, it then becomes the owner's responsibility for the lessee.
I have had owners suggest that they would pay only one year at a time on a longer term lease. In such cases I have always refused to accept this. If the owner wants to pay in this manner, then he/she should limit his or her leases to one year at a time, which usually does not make economic sense to the owner or gives him/her the sense of security he/she seeks.
Best wishes in your leasing activity.
Rob Baird, CA RE Lic. #544165 (One of the oldest, active licenses in CA)
Sep 28, 2010