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Updated almost 8 years ago,
Renting first commercial property - is this normal?
I'm looking for a commercial space in the North Atlanta suburbs to start a doggy day care. There are a couple of places I've been interested in, so I got in touch with a lawyer who said "don't sign anything then send me the lease proposal when you get it and we'll take it from there". Sounds reasonable. Sounds like the process I've read about.
Then I find this space. Large B class office. Good location for the price, even has a proper grassy yard. I get in touch with the broker who sends the owner to meet me. I'm having trouble understanding the owner as English is not his first language, but he seems OK about doggies all over his property, is happy for me to fence in his yard and there are some nice big signs on poles for advertising. I like this place and ask to see the lease.
Next thing the broker is ringing up asking for more rent because it is doggy day care. I say "no" and remind him I am looking at other properties too. Then he wants $50 up front so I can apply for the lease. He wants bank statements. He wants references. He wants me to fill in a long form that wants to know every last little thing about me. The sort of detail that puts me at real risk of ID theft, I'm thinking.
I figure this is just a credit check, but I am unhappy giving up my life on a plate, so I offer to pay a lot of rent up front in advance instead. If I can show I don't need credit, why would they need to check?
This is wonderful. They love this. Now I'm getting frequent emails referring to the upfront rent as a 'security deposit' (dream on) and they still want that goddamned form filled in handing over my whole life! And I still don't have a lease proposal to show the lawyer but I'm supposed to go round pestering the professionals in my life for personal references for a lease I haven't even had sight of yet?
At this stage I'm thinking I need some real help. People - is this type of third degree normal for a commercial real estate lease and I'm being paranoid? Checking into the broker, he does residential. I think this is a favor for his friend, the owner. Who is not listed on the county website as owning the property (he says he just bought it).
Either this is a pair of dufuses or I'm paranoid. Any help apreciated! Any commercial property appreciated too, if its 150ft from the nearest residential neighbor, has a road with 20,000+ eyeballs and is easily visible, with the potential for a yard.