Renting a unit to a company?

[Megan W.]

We own a multi family apartment unit and we had a prospective tenant interested in renting for a year. His job is sending him to the area due to a contract they have here and they will be paying the rent. We would like to proceed but unsure of the process we should go about it. How do we “run a credit check” on this company? Do we do a background check on him though? Proof of funds? The lease will be in the company name. Any insight one may have would be great. This is new territory for us.

[Gaspare U.]

Is the company publicly traded, if yes seeing their credit worthiness will be easy. If not, take a look at their business. Things I would consider is how old, industry, how many employees, online reviews? Will they be around for 12 months?

At the end of the day you are renting to the company not the employee. Which on paper should be better. Just make sure the lease is the way you want it. What happens if this employee leaves for one reason or another? Can the company sublet, must you approve the new tenant? Can they offer the apartment to clients as short term stays (think airbnb/hotel).

Good luck!