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Updated over 10 years ago on . Most recent reply

User Stats

30
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9
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Sam Masiello
  • Investor
  • Commerce City, CO
9
Votes |
30
Posts

Should I accept a corporate lease?

Sam Masiello
  • Investor
  • Commerce City, CO
Posted

I was hoping that I could get some advice from the collective about a question that I received from a prospective tenant today.  

I am in the process of renting out my third investment property and I got an email from someone asking if I accept corporate leases.  The wife emailed and said that her "husband works in oil and gas and a relocation company is going to put the lease in their name (the relo company's name).  

This is not a situation that I have dealt with before, so I wasn't sure if doing something like this was riskier or safer than my typical person to person lease.  If I were to go through with this, what are some of the things that I need to consider or make sure are in the lease prior to moving forward?  I am not sure if the relo company would be paying their rent or if the tenant will be. Should I find that out?

Also, how do I deal with an issue where the tenant may need to be evicted (lack of rent payment, etc) ?  How do I evict "a company" ?  Or again, are there provisos that I would need to make sure are part of the lease that wouldn't put me into a pickle?  

As I talk through it, it sounds more complicated than I feel like dealing with, but wanted to get some thoughts from folks who have some experience in this matter.

Thanks in advance!

--Sam

  • Sam Masiello
  • Most Popular Reply

    User Stats

    27
    Posts
    7
    Votes
    Jack Trader
    • Investor
    • Dublin, CA
    7
    Votes |
    27
    Posts
    Jack Trader
    • Investor
    • Dublin, CA
    Replied

    @Pat L. I have a similar situation where I am in the process of renting out my condo to a corporation that will have visiting consultants in the area. Would you mind sharing a copy of the lease that you did (delete all the confidential info ofcourse) Just want to get an idea of how the lease may differ from a lease to an individual. 

    Also did you do a background/credit check of some type on the corporation?

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