A prospective tenant is a photography studio with two photographers. Each has formed an LLC, and they would like the lease to name both LLCs as "Tenant." I will be getting a personal guarantee naming both persons. Is there a problem with putting 2 LLCs as Tenant in this case?
I'm no expert but if they're going be personally responsible as well I might pay a lawyer to say NP at the end. But I'd list both LLC's and both photogs are separately and fully responsible for the full rent. So they'd both have to bail and declare bankruptcy to escape.
Thanks for the input Bill. I'm covered by having both on the lease and both signing personal guaranty. They are first-time business people so they're overthinking the whole LLC thing, but I deal with this all the time. (First-time businesses.)