Need Help! Tenant’s company will cover expenses

[Jeff Takai]

Hi BP community!

I have a prospective tenant who is currently living in a hotel.  His company has agreed to pay for his living expenses. I’m wondering, do I put him as the primary tenant on the lease and have the company as a co-signer or guarantor? Or do I just have the company sign the lease?

I also need help with any additional addendums or documentation I will need to put in the lease compared to a normal residential lease.

Thanks in advance! 🙏 

[Theresa Harris]

Are they giving him the money to pay the rent or do they pay you directly?  Talk to the company and ask what is normally done.  I'd go with putting him on the lease and them as co-signers.

[Richard F.]

Aloha,

You need to get a personal guarantee from an Officer/Owner of the company, as well as have the actual occupants signing the Rental Agreement.

[Keenan Fitzpatrick]

I'd put his name on the lease unless it's a corporate housing situation/his company actually reached out to you.

[Jeff Takai]

Quote from @Theresa Harris:

Are they giving him the money to pay the rent or do they pay you directly?  Talk to the company and ask what is normally done.  I'd go with putting him on the lease and them as co-signers.

 The company will be paying me directly.  I put the tenant on the lease and got a letter from the CEO and also had the CEO co-sign.