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Updated almost 7 years ago on . Most recent reply

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Samantha Waters
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Multiple adult tenants, company paying for their rent.

Samantha Waters
Posted

First let me thank everyone who contributes to this site, I found a lot of useful tips on here. 

I just listed my house for rent today and got a very uncommon inquiry. The prospective tenant told me that they are a group of contractors that will be working on several projects around the area and told me their company is going to pay for their rent. I have never encountered this kind of situation, although I don't have much experience. Do you think this is common? Should I consider it or just skip their offer? And if I do end up leasing the property to them. Does one of them have to be the main signer (project manager) and the rest to be co-signers? Or does the construction company sign since they are paying the rent? Thank you very much!

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Patrick Liska
  • Investor
  • Verona, NJ
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Patrick Liska
  • Investor
  • Verona, NJ
Replied

If this is a true offer to rent, i would have the company sign and each adult tenant, this way they are all responsible should something happen, do not accept just the companies signature. some people may think this part of my answer is prejudice, that certainly is not how i want this to be viewed, it's only meant as to CYA, but if this is a contracting co. make sure that the workers that will be renting are legal as well, if not and something happens, you can forget ever recovering your costs in any way. maybe @Chris K. could answer if that is even a legal question you can ask a perspective renter ?

  • Patrick Liska
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