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Lease - rental agreement - corp rental
by Jim
on October 28, 2014 @18:51
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I have a corporate applicant. His company will sign for him and pay rent and security.
I do not really like the guy but company says they will cover everything.
Sound ok to you?
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Re: Lease - rental agreement - corp rental
by anon
on October 28, 2014 @19:22
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No. I wouldn't do it. Isn't the chief reason one incorporates is to protect oneself personally from creditors. Definite no. Who are you going to go after? In spite of what Mitch Romney thinks, a corporation is NOT a person.
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Re: Lease - rental agreement - corp rental
by MrDan (Georgia)
on October 28, 2014 @20:00
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If you have never done a corporate lease, you might need some legal advice as things have to be done correcty to protect the landlords interest. Some things to be aware of,
The first step that a landlord must take before ever signing a lease with a corporate resident is to verify that the corporation actually exists exactly as the name would appear on the lease; the landlord should also verify principals of the corporation and their designations, typically a specific officer or designated manager. Your Secretary of State Office maintains these records, and it is fairly easy to look up that information online. In some cases, it is advisable for the landlord to obtain the articles of incorporation. Never trust the information provided to you by the corporate contact with whom you are dealing. It is vital that the landlord investigate and verify that the information provided is correct. If the corporate entity does not exist, then the landlord jeopardizes any ability to collect any amounts owed.
When entering into a lease with a corporate resident, the actual names of the occupants should be listed, or else the landlord has no way to verify if those occupants have a criminal history.
The signature on the corporate lease must identify exactly the name of the corporate entity that will be named as the resident under the lease. Additionally, the signature must list the name of the representative with authority who is signing on behalf of the corporate resident. The presumption under law is that if a lease is signed without the designation of the person signing in a corporate representative capacity, then that person is signing the document in an individual capacity. If the landlord does not prepare the lease properly, the corporation may avoid liability for any obligations under the lease.
Make sure the lease and guaranty agreements are properly signed too, so that it is clear who is legally obligated to pay the rent or be responsible for the rent payments in the event rent is not paid if you do a lease.
And so much more...Not to scare you away from doing so, Corporations can be easy or hard to deal with...Run it through an attorney for advice!
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Re: Lease - rental agreement - corp rental
by Bill
on October 28, 2014 @21:17
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When you do business with a faceless impersonal corporation, later on you will be doing business with a corporate lawyer who will have a very personal, distinct face.
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Re: Lease - rental agreement - corp rental
by Anonymous
on October 29, 2014 @10:46
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When I rented to a company I had the president personally sign the lease, I pulled his credit (780+), and he was personally responsible for the lease. I checked the background of his workers staying there and he paid the rent each month. Good experience.
I would not accept a corporation being responsible. Let his company pay him the rent to pay you. Check his credit, landlord references, and background and criminal check. If he doesn't pass you got a problem. Have the president personally guarantee him just like I did. Good luck.
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Re: Lease - rental agreement - corp rental
by Anonymous
on October 31, 2014 @22:20
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This sounds bogus. In my state, a social security number has to be provided, or the court system frowns upon the landlord. You will have no luck making a corporation responsible for damages. And damages occur....
Research this setup before you agree to this.
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