Renting to a Company

[John Frank]

So I hope that I can explain this so that it makes sense without making my question too lengthy.

I have a rental that I self manage and use for college student rental.  I have a Christian Community that is interested in renting my property for two girls to attend the local college.  The Christian community is incorporated, and from what I understand this is how they pay for things as the individuals of the community share there resources and pool there money for expenses.  They have also sent me a letter of credit for the incorporated business.

I usually run background and credit checks online  for each student along with there cosigner through SmartMove.  Do I still need to run background checks on the two girls that will be living in my property?  If so I am not sure how to handle this as they do not have email address or use the internet.  Do I write the lease agreement with the Christian Community or with the two girls making the Christian Community the cosigner for the girls?  Also,  since they gave me a letter of credit what exactly should I do with it?  Do I need to get a W9 from them?  Any help and guidance is greatly appreciated.

Thanks

[Curtis Bidwell]

@John Frank if the letter of credit is from the bank you should be fine. if it's a small organization you could get info on the officers with a personal guarantee. I would also ask for business references. If they've been around awhile they will likely be fine, they have a reputation to protect.  I'd also get a copy of their insurance, and make sure they have current standing with the state.  They may give YOU a w9 as you are the one receiving payment from them, but that's on them.