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Updated over 5 years ago,
Tenant Requirements with Banks
This is a pretty random question.. but I am curious of the legality of it. There is an 8-unit complex near me that is completely vacant and in terrible shape. So getting bank financing would be fairly difficult. I had an idea to require any tenants who wanted to live in the property to make the bank I use for financing their primary bank. Can I actually use that as a requirement? Basically the thought is, by bringing more money into the bank with new clients, they may be willing to finance the building + construction. Thoughts? Thank y’all!
Cody Bell - Montgomery, AL